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<Research>Jefferies Lifts BIDU-SW's TP to HKD176; Spinning Off Kunlunxin for Listing Helps Unlock Value
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BIDU-SW (09888.HK) announced the spin-off of Kunlunxin for listing in Hong Kong to showcase Kunlunxin's independent value, enhance its market image, broaden financing channels, and strengthen management accountability through performance assessments, Jefferies wrote in its research report. In addition, the spin-off will help BIDU-SW unlock its potential value in the AI business sector. Kunlunxin will continue as one of BIDU-SW's subsidiaries after the transaction. Jefferies has kept a Buy rating on BIDU-SW and raised its target price from HKD154 to HKD176. AAStocks Financial News |
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