Susquehanna raised the firm’s price target on Baidu (BIDU) to $140 from $120 and keeps a Neutral rating on the shares. The firm said the company continues to see strong growth from its AI-powered businesses, with notable strength in AI Cloud Infra. That said, declines in the legacy online marketing business continue to offset the AI growth. While the valuation remains undemanding, the stock is likely to remain rangebound.
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