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<Hindsight>Brokers' Latest TPs & Views on BIDU-SW Post-Results
Recommend 6 Positive 9 Negative 5 |
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Baidu (BIDU.US)'s ADRs once reached USD95.15 with a surge of 6.5%, but it eventually closed down 4.3% at USD85.48. Meanwhile, BIDU-SW (09888.HK) slipped 3% to HKD83.5 in early trading this morning. Concerned about the continuous impact of the AI transformation of Baidu's search business on its core advertising revenue, the market lowered its forecasts for the company's advertising revenue and operating profit for the remaining quarters of the year. The table below lists the investment ratings and target prices for BIDU-SW (09888.HK) from six brokers: Broker│Investment Rating│Target Price Jefferies│Buy│HKD124 -> HKD116 UBS│Buy│HKD120 -> HKD104 BofA Securities│Buy│HKD101 -> HKD98 Goldman Sachs│Buy│HKD99 -> HKD94 Daiwa│Outperform│HKD93 HSBC Global Research│Hold│HKD89.7 -> HKD81.9 Broker│View Citi│AI transformation impacted search business margins, but cloud revenue stellar Jefferies│AI user experience prioritized with standout end-to-end cloud infrastructure CLSA│AI-powered search transformation speeding up UBS│AI product upgrades continued to pressure core advertising BofA Securities│Cloud business accelerating, but advertising facing downside pressure Morgan Stanley│Quarterly ad business slightly missed, but cloud business outstanding Goldman Sachs│Cloud business strengths increasingly offset by deeper restructuring in advertising business Nomura│Outlook for 2Q disappointing Daiwa│AI Cloud revenue up 42% YoY, but advertising subdued HSBC Global Research│Doubling down on AI-powered search AAStocks Financial News |
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