BIDU 被黑了？# Stock
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Baidu stock drops after Jefferies downgrades to hold
Shares of Baidu Inc. BIDU, -0.46% are down 0.9% in premarket trading after
analysts at Jefferies cut their rating to hold from buy. The analysts, led
by Karen Chan, are upbeat about Baidu's strong position in artificial
intelligence but worry that investments in this area, as well as spending on
channel marketing, could curb opportunities for margin expansion. She also
warns that the company might start to face harder comparisons for its search
business this year as well as stronger competitive pressures in key areas,
such as e-commerce. "While we remain long-term positive on Baidu's leading
AI position, we would await for a better entry point post the strong share
rebound of 60% from its low in May 2016," Chan wrote. She lowered her price
target on shares to $285 from $291.
Shares of Baidu Inc. BIDU, -0.46% are down 0.9% in premarket trading after
analysts at Jefferies cut their rating to hold from buy. The analysts, led
by Karen Chan, are upbeat about Baidu's strong position in artificial
intelligence but worry that investments in this area, as well as spending on
channel marketing, could curb opportunities for margin expansion. She also
warns that the company might start to face harder comparisons for its search
business this year as well as stronger competitive pressures in key areas,
such as e-commerce. "While we remain long-term positive on Baidu's leading
AI position, we would await for a better entry point post the strong share
rebound of 60% from its low in May 2016," Chan wrote. She lowered her price
target on shares to $285 from $291.