Baidu ADR rose after hours, Citigroup opened a 30-day bullish catalyst observation on it.

Baidu's ADR post-market trading in the United States rose 1.5%, after Citigroup opened a 30-day bullish catalytic observation on the internet search engine giant. Analyst Alicia Yap wrote, "The inherent strength of Baidu's chip and cloud business may become a catalyst for pushing up the stock price." "While it is difficult to predict when the overall market sentiment may change, we believe that there is still an opportunity to unlock value once Baidu's chip business spin-off timetable and market interest become clearer." Citigroup has given Baidu a "buy" rating. The company's stock price has fallen by more than 14% so far this year.