Barclays downgraded Baidu (BIDU) to Equal Weight from Overweight with a price target of $83, down from $115. The firm says the move to generative

US-listed shares fell nearly 3% in premarket trading Friday after Barclays (LON:BARC) analysts downgraded the stock to Equal Weight from Overweight and cut the price target from to $83 from $115.The revision comes amid pressures from the Chinese internet giant’s growing focus on generative AI,