Barclays Maintains Overweight on Baidu, Lowers Price Target to $133
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Jiong Shao maintains an Overweight rating on Baidu (NASDAQ:BIDU) but lowers the price target from $138 to $133.

February 29, 2024 | 12:57 pm
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NEUTRAL IMPACT
Barclays maintains an Overweight rating on Baidu but lowers the price target from $138 to $133.
While the reduction in price target from $138 to $133 by Barclays could suggest a slightly less optimistic outlook on Baidu's future stock performance, the maintenance of an Overweight rating indicates continued confidence in the company's fundamentals. This mixed signal might lead to a neutral short-term impact on Baidu's stock price as investors weigh the lowered price target against the sustained positive rating.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100