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.
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