Morgan Stanley downgraded Baidu (BIDU) to Underweight from Equal-weight, cut its 2026–2028 core revenue forecasts by 1%–9% and non-GAAP operating profit forecasts by 6%–31%, and slashed its price target 38.5% to $80 from $130, implying 10x 2027E P/E.
Jin1008/19, 12:04 PM
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