Baidu's Search For Stability: Can Q2 Earnings Counter Bearish Signals?
Portfolio Pulse from Surbhi Jain
Baidu Inc (NASDAQ:BIDU) is set to report its Q2 earnings, with Wall Street expecting $2.76 EPS and $4.4 billion in revenues. Despite some short-term bullish signals, technical indicators suggest a bearish outlook. Analysts maintain a 'Buy' rating with a price target of $165.67, indicating a potential 45% upside.
August 21, 2024 | 5:44 pm
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Baidu is expected to report Q2 earnings with $2.76 EPS and $4.4 billion in revenues. The stock shows mixed technical signals, with short-term bullish trends but overall bearish momentum. Analysts maintain a 'Buy' rating with a price target of $165.67, suggesting a 45% upside.
Baidu's upcoming earnings report is crucial, with expected EPS and revenue figures. Despite some short-term bullish indicators, the overall technical analysis suggests bearish momentum. However, analysts' positive ratings and high price targets indicate potential upside, balancing the short-term bearish outlook.
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