Baidu (BIDU) Climbs to Fresh High as 2 Analysts Post Optimistic Ratings

Group 1 - Baidu Inc. (NASDAQ:BIDU) shares reached a 52-week high of $124.79, closing at $123.79, up 7.81% on the day [1] - Arete Research Services upgraded Baidu's rating from "sell" to "buy," driven by optimism regarding the company's AI chip and cloud computing revenue [2] - Jefferies raised its price target for Baidu from $108 to $157 while maintaining a "buy" recommendation, reflecting confidence in the company's growth in the AI sector [3] Group 2 - Baidu secured a partnership with China Merchants Group to develop large language models and AI technologies for industrial applications [3] - The company plans to raise $56.2 million through bond issuance due in 2029 to support its AI initiatives [4]