Goldman Sachs Maintains Buy on Baidu, Lowers Price Target to $174
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Lincoln Kong has maintained a Buy rating on Baidu (NASDAQ:BIDU) but has reduced the price target from $181 to $174.
November 22, 2023 | 2:38 pm
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Goldman Sachs reaffirms a Buy rating on Baidu but lowers the price target to $174, indicating continued confidence but with a slightly reduced growth outlook.
The reduction in price target by Goldman Sachs reflects a modest adjustment in the expected stock performance of Baidu. While the Buy rating indicates a positive outlook, the decrease in the price target may temper investor expectations for growth in the short term. However, since the rating remains a Buy, the overall impact is likely to be neutral as the market digests both the endorsement and the revised target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100