Baidu Upgraded to Overweight on AI Opportunities
<p>Morgan Stanley analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/BIDU'>Baidu (NASDAQ:BIDU)</a> shares to Overweight from Equalweight and raised their price target to $190 from $160, noting that the company offers the most extensive exposure to artificial intelligence (AI) among all Chinese stocks.</p>
<p>The analysts anticipate AI to drive significant transformations in business, resulting in improved productivity and efficiency through increased IT spending and accelerated adoption of cloud services. Baidu, with its AI capabilities, is expected to gain market share in the cloud industry. Morgan Stanley believes that China's AI development has reached a crucial turning point, and Baidu is regarded as the most favorable investment to capitalize on the $7.4 trillion AI internet opportunity.</p>

NASDAQ:BIDU