Zacks Research upgraded Baidu from strong sell to hold. On the same day, Pomerantz LLP and DJS Law Group reminded investors about an ongoing securities class-action lawsuit against the company.
The lawsuit alleges Baidu made false and misleading statements about its ability to offset declining revenue from its legacy advertising business with growth in AI-powered ventures.
Baidu’s stock is trading near its 52-week low. Analysts have a consensus Hold rating and cite legal and fundamental risks amid concerns about weakening revenue.