Citi pointed out that Baidu's performance in the third quarter outstripped projections, especially given the subdued market expectations. Although revenue from online marketing services declined on a year-on-year basis, this downturn was somewhat mitigated by an uptick in cloud revenue. Baidu has seen enhancements in its operational metrics and has provided more detailed disclosures regarding its AI revenue. The company is also persisting in its investments to enhance its ERNIE Bot model and AI agents, all while unlocking shareholder value. It is anticipated that investors will gain increased confidence in Baidu's operational prospects and, consequently, its stock valuation. Citi forecasts that Baidu's core revenue will see a 1.4% year-on-year decrease in the fourth quarter, with marketing service revenue expected to fall by 12.5%. In contrast, AI cloud revenue is projected to surge by 15%. In light of the promising strides in its cloud business and autonomous driving ride-hailing services, Citi has revised Baidu's target price upward, from $166 to $181, and reaffirmed its 'Buy' rating.