** U.S.-listed shares of Chinese search-engine provider Baidu BIDU.O fell 3.1% to $109.89 premarket

** BofA Global Research cuts price objective on the stock to $165 from $180, still implying a 45.5% upside to its last close

** Brokerage lowers Baidu core 2026-2028 adjusted operating profit forecasts by 3%-8%, citing weaker advertising and higher AI investments

** Expects Q2 ad revenue to decline 21% YoY as traffic weakens, while AI cloud infrastructure revenue grows 58%

** 27 of 32 brokerages rate the stock "buy" or higher, 4 "hold" and 1 "sell"; their median PT is $176 - data compiled by LSEG

** up to last close, stock down 13.2%