Wall Street Analysts See Upside Potential for 5 Stocks with Rising Price Targets

03. Baidu, Inc. (NASDAQ:BIDU)

Upside Potential: 34%

On August 23, Barclays chose to increase its target for Baidu, Inc. (NASDAQ:BIDU), a prominent Chinese technology company. The newly adjusted target price has been raised from $181 to $183, indicating the potential for a slight upward adjustment in the target valuation. Barclays has also maintained its “Overweight” rating for the stock. This change in the target price suggests that Barclays envisions the potential for Baidu, Inc. (NASDAQ:BIDU) stock to reach $183 within a specified period. The “Overweight” rating underscores Barclays’ positive perspective on the company’s performance, indicating that it is an attractive investment choice.

Here is what Tweedy, Browne has to say about Baidu, Inc. (NASDAQ:BIDU) in its Q1 2023 investor letter:

“Many, if not most, stocks held in the Funds’ portfolios performed quite well in the first quarter. This was particularly true for the Funds’ non-US equity holdings, many of which have come into their own over the last two quarters, despite years of underperformance versus their US counterparts – a welcome shift given that our Funds’ portfolios have been somewhat non-US-centric in terms of their portfolio allocations for well over a decade. The Funds also received a long overdue boost from their Chinese and Hong Kong-based holdings in the wake of China’s reopening and the government’s signaling of a relaxation of their interventionist policies. This included strong returns in Baidu, Inc. (NASDAQ:BIDU) among others.”