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

We recently published All-Time Rush: 8 of 10 Big Names Hit Fresh Record Highs. Baidu Inc. (NASDAQ:BIDU) is one of the best performers on Tuesday.

Shares of Baidu Inc. (NASDAQ:BIDU) soared to a fresh 52-week high on Wednesday, as investors took heart from two investment firms’ price target and rating upgrades for the company.

During the session, the stock climbed to its highest price of $124.79 before trimming gains to end the day just up by 7.81 percent at $123.79 apiece.

In a market report, equity research firm Arete Research Services gave a “buy” recommendation for Baidu Inc.’s (NASDAQ:BIDU) American depositary receipts, a significant upgrade from the “sell” previously, amid optimism for the company’s AI chip and cloud computing revenue.

For its part, investment firm Jefferies also raised its price target for the stock to $157 from $108 previously, while maintaining a “buy” recommendation. The revision reflected continued optimism for the company, as it continues to ride the booming AI sector with newly signed deals.

Earlier this week, Baidu Inc. (NASDAQ:BIDU) secured an AI-focused partnership with China Merchants Group to collaborate on large language models, AI agents, and digital employee technologies for industrial use cases.

The company also announced plans to raise $56.2 million through the issuance of bonds due 2029 to support its AI initiatives.

While we acknowledge the potential of BIDU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.