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<Research>UOB Kay Hian Cuts BIDU-SW TP to HKD170, Maintains Buy
Recommend 6 Positive 10 Negative 12 |
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UOB Kay Hian issued a research report forecasting that BIDU-SW (09888.HK)'s total revenue for 1Q26 will shrink 2.9% YoY to RMB31.5 billion, of which AI-related businesses are expected to contribute about 50% of total revenue. The broker envisaged AI cloud infrastructure will become the company's key growth driver, offsetting the sustained weakness in its legacy search advertising. Owing to the increasing contribution from lower-margin AI-related businesses, the broker trimmed its net profit forecasts for BIDU-SW for 1Q26 and FY26 by 1% and 2%, respectively. It cut the TP from HKD175 to HKD170 and maintained a Buy rating. Auto-translated by AI AASTOCKS Financial News |
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