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<Research>CMBI Raises Baidu (BIDU.US) TP to USD150.7, Envisions Core Operating Profit Rebound
Recommend 1 Positive 6 Negative 5 |
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According to a report from CMBI, BIDU-SW (09888.HK)'s 3Q25 core revenue fell by 7% YoY to RMB24.7 billion, in line with the broker's forecast and 1.5% higher than the market consensus. BIDU-SW also logged a YoY drop of 67% in non-GAAP operating profit to RMB2.2 billion, though it was still 6% higher than the broker's and the market's expectations. CMBI estimated that BIDU-SW's core operating profit already bottomed out in 3Q25 and will recover gradually. Meanwhile, the group's further enhancement of shareholder returns will likely provide some support to valuation, and more disclosure of AI business development and increased transparency will become potential stock price catalysts. Baidu (BIDU.US)'s target price was lifted from USD148.4 to USD150.7, with a Buy rating remaining in place. AAStocks Financial News |
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