Nomura maintains a 'Buy' rating for Baidu Inc. The firm lowered its price target to $186 from $196.
Baidu's chip subsidiary, Kunlunxin, expects an initial public offering in the first half of 2026. Nomura projects Kunlunxin revenue will reach RMB 7.6 billion this year. The IPO enables the subsidiary's inclusion in the Southbound Trading of the Stock Connects list.
The Portnoy Law Firm launched a securities fraud investigation into Baidu. The probe follows a November 2025 report alleging company ties to the Chinese military.