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<Research>Daiwa Drops BIDU-SW (09888.HK) EPS Forecasts, Keeps TP at $175
Recommend 6 Positive 13 Negative 3 |
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Daiwa issued a research report lowering its 1Q26 advertising business revenue forecast for BIDU-SW (09888.HK) to reflect intensifying competitive pressure, ongoing AI transformation and seasonality. However, the broker raised its 1Q26 revenue forecast for the Company's AI cloud infrastructure, reflecting strong external demand, advantages of Kunlunxin and the Company's cost efficiency. Daiwa broadly maintained its 1Q26 revenue growth forecast for BIDU-SW, but cut its 2026-2028 EPS forecasts by 6-21% to reflect changes in business structure. Nevertheless, the broker kept its target price for the Company at $175 and rating at Buy. Auto-translated by AI AASTOCKS Financial News |
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