Baidu price target raised to $210 from $200 at Benchmark

Benchmark analyst Fawne Jiang raised the firm’s price target on Baidu to $210 from $200 and keeps a Buy rating on the shares after the company reported better than expected Q4 results and highlighted an improving ad outlook in Q1 as mobility returns to normal in China. The firm, which views Baidu as a key beneficiary of reopening in terms of advertising, also said it is "arguably too early to quantify the financial impact" of Baidu’s planned launch of its chatbot ERNIE in March, but believes the potential technology breakthrough presents an attractive optionality for Baidu to "capitalize on its AI technology capabilities."