Morgan Stanley cuts Baidu's US-listed share price target to $80

Odaily Planet Daily News: Morgan Stanley has lowered its core revenue forecast for Baidu (BIDU.O) for 2026 to 2028 by 1% to 9%, and its non-GAAP operating profit forecast by 6% to 31%, reflecting weak revenue and increased artificial intelligence investment. The US-listed share price target for Baidu has been cut sharply by 38.5% from $130 to $80, equivalent to 10 times the forecast price-to-earnings ratio for 2027, with the rating downgraded from "market perform" to "underweight."