Baidu’s Stock Surges on Analyst Hype – A Skeptic’s Take
Thomas Chong of Jefferies raised his price target from $108 to $157 like a gambler shuffling a deck with a loaded gun. “Buy” he said, as if the word could buy his way out of a paper bag. His logic? Baidu’s AI ambitions. A company that’s “embraced AI fully and rapidly,” he claimed, as though speed alone could offset the stink of vaporware.