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<Research>BOCI Raises Baidu (BIDU.US) TP to US$169.87; AI Propels Continued Growth
Recommend 5 Positive 13 Negative 3 |
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BOCI highlighted in a report that Baidu (BIDU.US)'s 1Q24 earnings grew 22% YoY, beating market expectations by 27.4%, while revenue rose 1% YoY, in line with market expectations. AI drove Baidu's continued growth, as the company launched a new 2B AI toolkit for its MaaS platform, thereby stimulating the use of AI Agents and LLM sub-models, in turn accelerating the growth of AI Cloud revenues to a 12% YoY increase. BOCI reiterated its Buy rating on Baidu and raised its target price from US$168.25 to US$169.87. AAStocks Financial News |
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