Morgan Stanley lowered its target price for Baidu to $130 from $140 and maintained an equal-weight rating.
According to Jin10, Morgan Stanley expected Baidu (09888.HK) core revenue in the second quarter of 2026 to fall 4% year over year to 25.3 billion yuan. It said the AI cloud infrastructure business was strong, with revenue expected to rise 56% year over year to 7.6 billion yuan, which could partly offset an 18.5% decline in advertising revenue.
Citing weak advertising performance, Morgan Stanley cut its forecasts for Baidu's 2026 and 2027 core revenue by 3%. It also lowered its operating profit forecast by 11% to 12% to reflect increased AI investment.
STOCKS | Morgan Stanley Cuts Baidu Target Price to $130, Keeps Equal-Weight Rating
2026-07-14 03:49:42
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