Baidu recently announced the issuance of $2 billion in exchangeable bonds to facilitate the sale of a significant portion of its stake in Trip.com. This strategic move allows Baidu to receive proceeds without selling shares in the open market, which could stabilize its stock price and demonstrate management's focus on shareholder value.
Analysts maintain a Moderate Buy rating with an average price target of $111.16, suggesting a potential upside of 17.26% from current levels.
Based on the analysis, Baidu's stock is expected to rise next week. The target price is $108, and the recommendation is to buy.
The price of BIDU is predicted to go up -31.43%, based on the high correlation periods with EVGN. The similarity of these two price pattern on the periods is 91.84%.
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EVGN
Baidu is strengthening its mobile ecosystem with search, livestreaming, and mini programs, helping to create a closed-loop experience for users to acquire information and make transaction.
Baidu is a leader in AI with autonomous driving in terms of number of miles tested and the number of driving licenses in China could become another growth catalyst.
Sitting on a cash pile of over CNY 100 billion, Baidu has ample dry powder to invest in technology, particularly in AI, as well as merger and acquisition opportunities.
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