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<Research>Nomura Raises Baidu's TP to USD196 w/ Rating Kept Buy
Recommend 3 Positive 5 Negative 3 |
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Nomura has released a research report estimating BIDU-SW (09888.HK) (BIDU.US) to have achieved largely in-line core performance in 4Q25. Its total revenue will have declined by 5.7% YoY to RMB26 billion, of which advertising revenue might have decreased by 15.5%, though the decline would have slightly narrowed on a QoQ basis. Due to the continued weakness in the advertising business, BIDU-SW's operating profit margin is expected to have remained under pressure. Nomura predicts a YoY drop of 6.6 ppts in the 4Q25 operating profit margin to 10.2% and a decline of 43% in the non-GAAP operating profit to RMB2.7 billion. Nomura has lifted its target price for Baidu (BIDU.US) from USD178 to USD196 and kept the Buy rating unchanged. AAStocks Financial News |
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