Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>CICC: Lower-than-expected BIDU-SW (09888.HK) Core Ad Rev. Estimated w/ TP $96, Rating Kept at Outperform
Recommend 4 Positive 4 Negative 4 |
||||
|
||||
|
CICC released a research report expecting BIDU-SW (09888.HK)(BIDU.US)'s 2Q25 revenue to drop 3.8% YoY to RMB32.7 billion. Of which, BIDU-SW's core revenue is estimated to decrease by 3.8% YoY to RMB25.7 billion. Due to the lower-than-expected core advertising revenue, CICC lowered its 2025/ 2026 revenue forecasts for BIDU-SW by 1%/ 2% to RMB131.3 billion/ RMB132.2 billion, and reduced its 2025/ 2026 non-GAAP net profit forecasts by 16%/ 8% to RMB18.2 billion/ RMB21.8 billion each, with rating kept at Outperform. Considering the valuation boost in some segments, CICC maintained its target prices for BIDU-SW's US stock/ H-shares at US$99.1/ $96, corresponding to a 14x/ 11x non-GAAP PE ratios for 2025/ 2026 based on a SOTP valuation method, offering an upside potential of 6%/ 8% for its US stock/ H-shares, respectively. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
