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Fly News Breaks for June 4, 2019
Jun 4, 2019 | 08:22 EDT
As previously reported, Loop Capital analyst Rob Sanderson initiated Baidu with a Hold rating and a price target of $125. The analyst sees Baidu as a "strong technology company" offering "multiple long-term upside options", but also points to the soft macro conditions and a more competitive environment for its product. Sanderson wants to see improved visibility in the company's core business, adding that while its enterprise AI, voice search and autonomous vehicle opportunities are "sizable" in the long term, they are not yet "investable" for fund managers.