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<Research>Haitong Intl Raises Baidu TP to USD201 as AI Momentum Lifts Earnings Above Expectations
Recommend 4 Positive 8 Negative 7 |
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Motivated by AI momentum, BIDU-SW (09888.HK) delivered better-than-expected results for 1Q26, Haitong International said in its report. Total revenue dipped 1% YoY and 2% QoQ to RMB32.1 billion, 2% above market expectations. Adjusted net profit whopped RMB4.3 billion (margin 14%), 5% above market forecasts. Baidu Core revenue grew 2% YoY, 4% above consensus. Baidu Core adjusted net profit was RMB4.4 billion (margin 17%), topping market estimates by 16%. Haitong International maintained its Outperform rating on Baidu, Inc. (BIDU.US) and raised its US stock TP from USD188 to USD201, as it increased the PE valuation of the cloud from 15x to 30x to reflect rapid growth. The broker expected that, as the spin-off and listing of Kunlunxin (KLX) moves along well, a series of value-unlocking initiatives will follow, including share buybacks, dividends, dual primary listing and a Robotaxi spin-off. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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