The firm also upgraded shares to overweight from equal weight.
It's time to buy Baidu thanks to artificial intelligence, according to Morgan Stanley. Analyst Gary Yu upgraded shares of the Chinese internet stock to overweight from equal weight and raised his price target by $30 to $190. His new target implies a 30.9% upside from where shares finished Friday. Baidu should be poised to win from a likely shift of offline spending in 2022 to online by 2030, Yu said.
mountain BIDU in 2023 — CNBC's Michael Bloom contributed to this report.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
An endangered bird egg hatched at Houston Zoo for first time in 30 yearsA rare bird egg hatched at the Houston Zoo, making it the first in almost 30 years.
Read more »
Tesla offers free supercharging, discounts to sell cars more by June 30Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Florida man gets 30 years in prison for fatal texting and driving crashA Florida man was sentenced to 30 years in prison Thursday for killing a boy in a car crash in the state’s first trial for texting and driving.
Read more »
Police: Akron 30-year-old stabbed at partyPolice said the stabbing reportedly happened at a party.
Read more »
1 dead, several others injured in overnight crashes on I-30One person is dead and three others are hospitalized following two crashes on I-30 early Sunday morning.
Read more »