Baidu Gets Price Target Bumps By Analysts After Q4 Results

Baidu, Inc. BIDU reported better-than-expected Q4 results. The company also announced a $5 billion share repurchase program.

Baidu reported a flat fourth-quarter FY22 revenue growth year-on-year to $4.796 billion, beating the consensus of $4.650 billion. Baidu's Non-GAAP earnings per ADSof $2.21 beat the consensus of $2.00.

Baidu shares fell 2.6% to close at $137.12 on Wednesday and added 2.5% in today’s pre-market trading.

These analysts made changes to their price targets on Baidu following the release of results.

• Barclays raised the price target on Baidu from $139 to $181. Barclays analyst Jiong Shao maintained an Overweight rating.
• Citigroup boosted the price target on Baidu from $176 to $191. Citigroup analyst Alicia Yap maintained a Buy rating.
• Mizuho increased the price target on Baidu from $180 to $190. Mizuho analyst James Lee maintained a Buy rating.

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