Baidu price target raised to $191 from $176 at Citi

Citi raised the firm’s price target on Baidu to $191 from $176 and keeps a Buy rating on the shares. The company reported better than expected Q4 results and shares that online advertising has seen decent recovery trend post Chinese New Year, the analyst tells investors in a research note. The firm believes Baidu is well positioned to ride on China’s economic recovery and upcoming generative AI technology breakthrough.