Chinese tech company Baidu garnered interest among investors following a 28% year-to-date drop in its share price — but one market watcher is unimpressed.
For comparison, the Nasdaq Composite is up around 25.4% year-to-date, while the benchmark S & P 500 index is around 22.5% higher.
According to FactSet data, of the 46 analysts covering the stock, 35 give it a "buy" or "overweight" rating, at an average price target is $125.41.
BIDU YTD mountain Year-to-date shares in Baidu Among the reasons for Hsu's skepticism, is that Baidu as an internet search engine "is a one trick pony."
"Baidu was riding high for a short while but ... the AI story may have sunset on Baidu and it will go back to being a one trick pony."
Persons:
that's, Jason Hsu, CNBC's, Ernie Bot, Hong, Hsu —, —, Hsu, Baidu
Organizations:
Baidu, Rayliant Global Advisors, Nasdaq, China Equity ETF
Locations:
China