Morgan Stanley analyst Gary Yu raised the firm’s price target on Baidu (BIDU) to $150 from $130 and keeps an Equal Weight rating on the shares. The firm lowered its 2025 and 2026 core revenue estimates to 0% and 5%, reflecting weaker ads, but nudged up its core operating profit estimate for 2026 by 2% as it expects more savings from organizational restructuring and further depreciation savings from asset impairment.
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