Baidu price target raised to $175 from $150 at Susquehanna

Susquehanna analyst Shyam Patil raised the firm’s price target on Baidu to $175 from $150 and keeps a Positive rating on the shares. The analyst said COVID disruptions continue to weigh on the advertising business, focused on execution. Susquehanna said while significant near- term uncertainty remains, our long-term view of BIDU remains constructive as we see the company as a leading player in China’s search market, a key player in the feeds market, owner of one of the top video assets in the country, and a market leader in AI applications.