Barclays lowered the firm’s price target on Baidu to $125 from $133 and keeps an Overweight rating on the shares. Amid an “already weakish” macro environment, the company’s lack of monetization of generative artificial intelligence will further pressure advertising revenue, the analyst tells investors in a research note. The firm reduced Q2 estimates for Baidu.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BIDU: