Deutsche Bank last night upgraded Baidu (BIDU) to Buy from Hold with a price target of $160, up from $90. The firm says Baidu has established a set of leading artificial intelligence businesses across cloud computing, robotaxis, intelligent search, and AI chips. Baidu AI Cloud is “rapidly growing” while Apollo Go has become a global leader in robotaxi platforms, the analyst tells investors in a research note. Deutsche sees AI driving the next phase of Baidu’s growth.
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