Why Baidu Is Soaring Today
Shares of Chinese tech giant (NASDAQ: BIDU) were soaring on Friday, up 13.1% as of 12:00 p.m. EDT, with "China's Google" reaching its highest stock price since mid-2023.
The catalyst for today's move was Baidu's confidential filing for an initial public offering of its in-house semiconductor chip design firm, Kunlunxin.
The move is thought to unlock value for the tech conglomerate, which may be undervalued based on a sum-of-the-parts calculation.
Source Fool.com
Baidu Inc. A ADR Stock
€116.00
2.470%
The stock is one of the favorites of our community with 31 Buy predictions and 3 Sell predictions.
As a result the target price of 137 € shows a slightly positive potential of 18.1% compared to the current price of 116.0 € for Baidu Inc. A ADR.
