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Technology Stocks : Baidu (BIDU)

BIDU 103.80

-0.3%

9:30 AM EDT

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From: Julius Wong	2/22/2024 8:12:21 PM
	1 Recommendation Recommended By Ron of 2077

Baidu might be most 'underappreciated' player in AI Feb. 22, 2024 2:48 PM ET By: Brandon Evans, SA News Editor V2images/iStock Unreleased via Getty Images Baidu (NASDAQ: BIDU) might be "the most underappreciated name in AI," according to investment firm Citron Research. "Despite being the clear leader in AI in China, their stock is trading at a historically low multiple," Citron Research posted on social network X, formerly known as Twitter. "The China slump WILL end." Baidu inched up 3% to $110 during afternoon trading Thursday as artificial intelligence-linked stocks rose following blockbuster earnings by Nvidia ( NVDA). Other investment firms are positive on Baidu, including Benchmark, which has a Buy rating and a $210 price target on the Chinese tech giant. Generative AI is seen as a net-growth accelerator for Baidu and see the company well positioned to ride on the increasing demand on technology innovation to help enterprises improve productivity with efficiency gains, Benchmark analysts led by Fawne Jiang recently said. Baidu is slated to report its fourth-quarter earnings prior to the start of trading on Feb. 26. Consensus expectations call for earnings per share of $2.51 on revenue of $4.88B.

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