The firm also upgraded shares to overweight from equal weight.
It's time to buy Baidu thanks to artificial intelligence, according to Morgan Stanley. Analyst Gary Yu upgraded shares of the Chinese internet stock to overweight from equal weight and raised his price target by $30 to $190. His new target implies a 30.9% upside from where shares finished Friday. Baidu should be poised to win from a likely shift of offline spending in 2022 to online by 2030, Yu said.
mountain BIDU in 2023 — CNBC's Michael Bloom contributed to this report.
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