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<Research>CMBI Lifts Baidu (BIDU.US) TP to US$132, Rating Buy
Recommend 7 Positive 11 Negative 1 |
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BIDU-SW (09888.HK)(BIDU.US)'s 2Q25 core revenue fell by 2% YoY to RMB26.3 billion, slightly beating expectation, CMBI released a research report saying. Non-GAAP core operating profit decreased by 37% YoY to RMB4.4 billion, but was 12% higher than anticipated. Due to a more aggressive-than-expected business transformation plan, the recovery in advertising revenue growth may take longer than expected. However, new initiatives such as Apollo Go and Baidu Cloud are steadily developing, and are expected to become long-term incremental drivers for revenue and profit growth. Therefore, the broker lifted its target price from US$130.3 to US$132, with rating kept at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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