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<Research>Daiwa Raises BIDU-SW TP to $162, Reaffirms Buy Rating
Recommend 5 Positive 6 Negative 3 |
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Daiwa published a report covering BIDU-SW (09888.HK), of which Baidu Core revenue and operating profit for 3Q25 slightly beat, with profit benefiting from other income and tax incentives. Baidu Core revenue for 3Q25 sank 9.5% YoY to RMB24 billion, with online marketing revenue down 24% YoY to RMB14.3 billion, and cloud services revenue up 21% YoY to RMB200 million. The company announced new financial disclosures for AI-native products. Based on the upward revision of R&D expenditure forecasts, Daiwa lowered Baidu's EPS estimates for FY2026-27 by 3-4%. It reaffirmed a Buy rating for Baidu and raised the target price from HKD158 to HKD162. AASTOCKS Financial News Website: www.aastocks.com |
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