HSBC Raises Baidu (BIDU) Target to $130 on Kunlunxin AI Chip Spinoff Plans

Baidu, Inc. (NASDAQ:BIDU) is one of the AI Stocks on the Market's Radar. On January 4, HSBC analyst Charlene Liu raised the price target on the stock to $130.00 (from $112.00) while maintaining a Hold rating. The rating update follows Baidu’s plans to spin off its artificial intelligence chip subsidiary, Kunlunxin, which the firm believes is value-adding for BIDU. The firm noted how Baidu filed a confidential listing application on January 1st, for its AI chip subsidiary KLX on the Hong Kong Stock Exchan ...