15 Buzzing AI Stocks Making Headlines

Page 6 of 14

9. Baidu, Inc. (NASDAQ:BIDU)

Number of Hedge Fund Holders: 54

On November 22, Saiyi HE from CMB International Securities maintained a Buy rating on Baidu, Inc. (NASDAQ:BIDU) with a price target of $153.60. The company’s positive financial outlook and strong third-quarter results for 2024 have contributed to the buy rating. Although it will take time for its Gen-AI initiatives to monetize, its focus on improving products and user engagement lays a strong foundation for long-term growth. Baidu’s anticipated recovery in its Cloud revenue growth, driven by increased GPU cloud revenue and cross-selling opportunities, has also led to the buy rating. Although Baidu Core’s online ad revenue dipped a bit, it is expected to recover with support from macroeconomic environment improvements and future monetization of Gen-AI search results.

Page 6 of 14