Analysts Weigh Baidu’s Position Amidst Geopolitical Pressures and Technological Advancements

Benchmark analyst Fawne Jiang reiterated Baidu Inc (NASDAQ:BIDU) with a Buy and a $210 price target.

BIDU delivered solid 2Q results thanks to post reopening recovery. While macro uncertainty creates variables in its ad growth outlook for the second half of FY23 and FY24, Jiang believes mobility-driven verticals and BIDU’s large SME advertisers are still on a gradual recovery trajectory apart from the base factors.