JPMorgan sees an AI-powered future ahead for Chinese internet services provider Baidu . The bank upgraded the Chinese internet services stock to an overweight rating from neutral. It also hiked its price target for U.S.-domiciled shares to $188 from $110, which signals 69% upside ahead. BIDU YTD mountain BIDU YTD chart Analyst Alex Yao's upgrade comes as cloud and AI are set to become Baidu's growth engines and value drivers. He believes that the market is underestimating this transition and suggested investors buy into Baidu now to capture the valuation rerating. Yao sees Baidu's cloud revenue growth accelerating to around 61% in 2026, versus 23% in 2025. He attributed this to a surge in sales of Kunlun AI chips. "We believe domestic demand for AI compute in China remains intense, and hyp

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