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<Research>Citi Raises Baidu's TP to USD166; 3Q AI Cloud Rev. Expected to Grow 20%
Recommend 12 Positive 16 Negative 7 |
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According to a report from Citi, BIDU-SW (09888.HK) (BIDU.US) is set to announce its 3Q25 results in mid-November, which are expected to largely meet the broker's and the market's expectations. In Citi's estimate, BIDU-SW's core advertising revenue will decline by 23% YoY, while its AI cloud revenue will grow by 20% YoY. Its forecast for 3Q25 total revenue remains unchanged at RMB30.6 billion with a YoY drop of 8.7%. The non-GAAP diluted earnings per ADS are expected to reach RMB9.12. BIDU-SW's core revenue is also forecasted to decrease by 9.7% YoY to RMB23.96 billion, while its non-advertising revenue may leap by 23% on the AI cloud business. Considering the recent repricing of shares, Citi has raised Baidu's (BIDU.US) target price from USD143 to USD166, while maintaining the Buy rating unchanged. AAStocks Financial News |
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