Baidu price target raised to $181 from $139 at Barclays

Barclays analyst Jiong Shao raised the firm’s price target on Baidu to $181 from $139 and keeps an Overweight rating on the shares. Following broadly in-line Q4 results, management’s commentary around an ad market recovery since the beginning of the year is encouraging, the analyst tells investors in a research note. The firm increased revenue and earnings estimates for Q1 and fiscal 2023.