CICC Raises Baidu Price Target to HKD196, Citing Kunlunxin IPO Value Reassessment

CICC significantly raised the price target for Baidu's (BIDU-SW) HK-listed shares to HKD196, citing that a major value reassessment is underway following the company's strategic moves in its AI semiconductor business.

• The upgrade follows Baidu's recent confidential filing for a Hong Kong IPO of its Kunlunxin AI chip unit, intended to unlock value from its fast-growing AI operations.
• Baidu (BIDU) closed the last trading session up +1.61% at $143.54.