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
€96.40
2.790%
The stock is one of the favorites of our community with 33 Buy predictions and 4 Sell predictions.
As a result the target price of 138 € shows a positive potential of 43.15% compared to the current price of 96.4 € for Baidu Inc. A ADR.
