Jefferies Upgrades Outlook on Baidu (BIDU) After AI Chip Unit Spin-Off Announcement

Baidu, Inc. (NASDAQ:BIDU) is one of the AI Stocks Making Waves on Wall Street. On January 2nd, Jefferies analyst Thomas Chong raised the firm's price target on the stock to $181 from $159 and kept a “Buy” rating on the shares. Firm analysts remain constructive on the shares as they view potential value unlock from the recent HK listing while BIDU retains control. The tech giant recently announced plans to spin off its artificial intelligence chip subsidiary, Kunlunxin, and list it in Hong Kong. The compa ...