Susquehanna lowered the firm’s price target on Baidu to $135 from $150 and keeps a Positive rating on the shares. The firm said Bidu continues to navigate a challenging macro environment while remaining focused on its long-term initiatives like AI and intelligent driving. Despite the uncertain macro outlook impacting the ads business, management is focused on what it can control and remains optimistic that generative AI initiatives can help reaccelerate growth over time.
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