Baidu (BIDU) Gets Major Upgrade as Analysts See Strength in AI Cloud and Apollo Go

Baidu, Inc. (NASDAQ:BIDU) is one of the Trending AI Stocks on Wall Street. On November 7, Deutsche Bank upgraded the stock to “Buy” from Hold with a price target of $160, up from $90. The firm believes that the China tech company is well positioned for artificial intelligence.

“Baidu has established a set of leading AI businesses spanning cloud computing, robotaxis, intelligent search, and AI chips.”

According to analysts, Baidu AI Cloud is growing rapidly, and Apollo Go has also become a global leader in robotaxi platforms. They also believe that AI is driving the next phase of Baidu’s growth.

While Deutsche Bank’s price target for Baidu, Inc. (NASDAQ:BIDU) suggests an upside of 21%, the stock’s average price target implies a 7% upside, from current levels. The stock sports a consensus Moderate Buy rating.

Baidu, Inc. (NASDAQ:BIDU) is a Chinese internet giant and AI pioneer, known for its noteworthy investments in artificial intelligence technology and its position as the dominant search engine within the country.

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Disclosure: None.