HSBC Maintains Buy on Baidu, Lowers Price Target to $145
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Charlene Liu maintains a Buy rating on Baidu (NASDAQ:BIDU) but lowers the price target from $157 to $145.
April 24, 2024 | 4:50 pm
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NEUTRAL IMPACT
HSBC maintains a Buy rating on Baidu but lowers the price target from $157 to $145.
While the reduction in price target could suggest a more cautious outlook on Baidu's short-term price potential, the maintenance of a Buy rating indicates continued confidence in the company's fundamentals and long-term prospects. This mixed signal could lead to neutral short-term price movement as investors weigh the lowered price target against the reaffirmed positive rating.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100