On July 8, Baidu rose 5.21% overnight, trading at $118.0/share, with turnover of $2.0836 million.

On the news front, Macquarie recently published a research note raising Baidu's target price from HK$169 to HK$181 while maintaining an Outperform rating. The core thesis centers on the anticipated IPO of Baidu's AI chip subsidiary KunLun Chip, which is expected to unlock significant shareholder value. Macquarie projects KunLun Chip's fiscal year revenue will more than double year-over-year to approximately RMB 8.5 billion, assigning a valuation of roughly $48 billion. With Baidu holding a 59% stake, this implies an equity value of approximately $82.5 per share attributable to Baidu. Additionally, nine investment banks have issued buy ratings on Baidu over the past 90 days, with an average target price of HK$171.03. Separately, Cross-Border International recently assigned a Buy rating with a US-listed target price of $175, citing an earnings inflection point expected in the second half of this year as AI-driven businesses accelerate.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)