Citi Raises Baidu (BIDU) Target Despite Ad Weakness

by MarketNewsData

Citi Raises Target to $140 from $138 Despite Ad Weakness

Citi maintained its Buy rating on Baidu while trimming ad revenue forecasts due to weak macro sentiment and AI-related cannibalization. Despite this, it raised the ADR price target to $140, up from $138, citing long-term monetization potential in generative AI and cost discipline.

  • Q2 ad revenue estimate cut by 6.1%
  • Q3 ad revenue estimate cut by 8.9%
  • Core operating profit for Q2/Q3 reduced by 21%/24%

📌 Rating: Buy maintained

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