0732 GMT - Baidu is likely to benefit from strong AI demand, Nomura analysts say in a research note. They estimate that the company's cloud revenue grew 29% on year in 1Q, supported by its AI business, though advertising likely remained soft. The analysts note that the Chinese search giant remains optimistic about the AI outlook despite geopolitical risks, as shown at its recent AI event. Nomura says forecast risks are skewed to the upside, maintaining a neutral rating on the stock. It keeps a target price of $98.00 on ADRs, which last closed at $90.37. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
April 29, 2025 03:32 ET (07:32 GMT)
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