Jefferies Lifts Baidu (BIDU) Target on AI Advances and Strong Customer Adoption

Baidu, Inc. (NASDAQ:BIDU) ranks among the best hot AI stocks to buy right now. Jefferies retained its Buy rating on Baidu, Inc. (NASDAQ:BIDU) and raised its price target from $108 to $157 on September 17. The firm stated that Baidu has been acquiring major customers for AI collaboration, and that the company’s recent advancements in AI were the main cause of the higher valuation.

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Along with its advancements in Kunlun chip development, Jefferies emphasized Baidu’s expanding market position and identified it as a major player in AI Cloud revenue and penetration among major customers.

Additionally, the firm highlighted the rapid sequential expansion of Baidu’s AI agents and digital human products, as well as the globalization of its Apollo Go autonomous driving platform.

Baidu, Inc. (NASDAQ:BIDU), a leading Chinese technology company, manages China’s largest internet search engine. The company has expanded into AI-driven initiatives that include self-driving technology and conversational AI models like Ernie.

While we acknowledge the potential of BIDU to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BIDU and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.