On November 19, 2025, Benchmark raised its price target for Baidu (BIDU) to $158 from $115, citing strong AI growth. Nomura also upgraded BIDU to 'Buy' on November 20, highlighting potential in its chip business and plans to enhance shareholder returns. These upgrades contributed to positive retail sentiment and a 1% premarket gain on November 20. Baidu's recent quarterly results showed a 7% year-over-year revenue decline, missing expectations, but beating estimates with $4.38 billion in sales. The company also reported a large impairment charge, raising concerns about asset valuation. Analysts remain divided, with 24 of 33 maintaining a 'Buy' rating and an average price target of $147.