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<Research>JPM Raises BIDU-SW (09888.HK) TP to HKD225 as AI Biz Propels Valuation Re-rating
Recommend 9 Positive 11 Negative 6 |
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JPMorgan released a research report re-evaluating the business structure of BIDU-SW (09888.HK). The report noted that the market had previously viewed Baidu as a "sinking search plus a Kunlunxin IPO catalyst", with expectations that capital would rotate from Baidu to Kunlunxin after the latter's listing. However, Baidu's 1Q26 results refuted this narrative. Core AI-powered Business recorded revenue of RMB13.6 billion, up 49% YoY, accounting for 52% of Baidu Core revenue for the first time. In contrast, Online Marketing Services shrank 22% YoY. Based on this, JPMorgan raised its TP for BIDU-SW (09888.HK) from HKD195 to HKD225, and lifted its TP for Baidu, Inc. (BIDU.US) from USD200 to USD230, while maintaining an Overweight rating. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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