Baidu's stock price surged 5.21% during the trading session, marking a significant upward movement for the Chinese technology giant.

The rally was fueled by positive analyst sentiment, with Macquarie raising Baidu's target price from HK$169 to HK$181 while maintaining an Outperform rating. The core driver behind this upgrade is the anticipated IPO of Baidu's AI chip subsidiary, KunLun Chip, which analysts believe will unlock substantial shareholder value. Macquarie projects KunLun Chip's fiscal year revenue will more than double year-over-year to approximately RMB 8.5 billion.

This bullish outlook is supported by broader analyst consensus, with nine investment banks issuing buy ratings on Baidu over the past 90 days and an average target price of HK$171.03. Separately, Cross-Border International assigned a Buy rating with a US-listed target price of $175, citing an expected earnings inflection point in the second half of the year as AI-driven businesses accelerate their growth trajectory.