Baidu price target lowered to $160 from $190 at Loop Capital

Loop Capital lowered the firm’s price target on Baidu to $160 from $190 but keeps a Buy rating on the shares. The firm is citing its “more tepid” outlook for advertising revenue growth, along with its “more conservative” assumptions across its sum-of-parts methodology, even though the management is notably more bullish on gen-AI opportunities as monetization begins to take shape and contribute to revenue across cloud and search, the analyst tells investors in a research note.