Yesterday, Nomura analyst Jialong Shi attended Baidu Inc (ADR) (NASDAQ:BIDU)’s World 2016 conference in Beijing, the leading Chinese language Internet search provider’s annual showcase of its most current insights and new businesses. For a year where Artificial Intelligence (AI) took the front seat as the major theme, the company demonstrated how refining this technology could lead to enhanced efficiency and intelligence in its search, O2O, and autonomous cars.

On back of the world conference, Shi ultimately finds that as “open” as the company is to opportunities, “Baidu management sounded too optimistic,” and reiterates a Neutral rating with a target price of $155, which represents a 13% downside from where the shares last closed.

Shi asserts, “We believe Baidu is a leader in AI-related research in China, but its commercialization may take a few more years, which would be partially subject to the development of the enterprise cloud service that Baidu just began to treat seriously last year. Baidu voiced confidence for the prospect of its mobile search. We believe mobile search remains highly relevant in the mobile internet era. But Baidu’s lack of access to those original contents generated by third-party apps, particularly Tencent’s Wechat app, remains a potential risk. Even Baidu management admitted the importance of contents in increasing users’ stickiness to and time spent on its mobile search.”

As usual, we like to include the analyst’s track record when reporting on new analyst notes to give a perspective on the effect it has on stock performance. According to TipRanks, four analyst Jialong Shi is ranked #874 out 4,132 analysts. Shi has a 70% success rate and yields 10.3% in his annual returns.

TipRanks analytics indicate BIDU as a Buy. Based on 12 analysts polled in the last 3 months, 9 rate a Buy on BIDU, 2 maintain a Hold, while 1 issues a Sell. The consensus price target stands at $183.00, marking just under a 4% upside from where the stock is currently trading.