2023-10-19 18:20:00 ET
Baidu (NASDAQ: BIDU) stock was battered on Thursday, due in no small part to a pair of price-target cuts from analysts. That left the Chinese tech giant's shares nearly 6% weaker on the day, a far worse performance than the S&P 500 index's 0.9% decline.
The two entities behind the Baidu price target reductions were JPMorgan Chase and Goldman Sachs .
Of the pair, it was Lincoln Kong, the Goldman Sachs analyst, who made the (slightly) deeper cut. He reduced his level to $181 per share from his previous target of $197. He also maintained his buy recommendation on the big tech company .
For further details see:
Why Baidu Stock Tanked by 6% on Thursday