Barclays Maintains Overweight on Baidu, Lowers Price Target to $115
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Jiong Shao maintains an Overweight rating on Baidu (NASDAQ:BIDU) but lowers the price target from $125 to $115.
August 23, 2024 | 1:56 pm
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Barclays has maintained its Overweight rating on Baidu but reduced the price target from $125 to $115, indicating a slightly less optimistic outlook.
The reduction in the price target from $125 to $115 suggests that while Barclays still sees Baidu as a strong investment (Overweight), they have adjusted their expectations downward, which could lead to a short-term negative impact on the stock price.
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