Citi analyst Alicia Yap raised the firm’s price target on Baidu (BIDU) to $166 from $143 and keeps a Buy rating on the shares as part of a Q3 earnings preview. The firm expects soft advertising results along with solid cloud sales to drive an inline quarter. Citi cites its updated sum-of-the-parts valuation following the recent re-rating of the shares for the target boost.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BIDU:
- Moderately bullish activity in Baidu with shares up 2.62%
- Macquarie Upgrades Baidu Stock (BIDU) on Pivot Towards Diversified Revenue Streams
- NIO, BABA, JD: Chinese Stocks Tumble after Trump’s “Massive Tariffs” Threat
- Align downgraded, NetEase upgraded: Wall Street’s top analyst calls
- Baidu upgraded to Outperform from Neutral at Macquarie