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<Research>BofAS: Baidu's 4Q General Biz Rev. In Line; Adj. OP Beats
Recommend 2 Positive 9 Negative 2 |
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BofA Securities released a research report on BIDU-SW (09888.HK), which achieved a general business revenue of RMB26.1 billion in 4Q25, meeting market expectations. The adjusted operating profit was RMB2.8 billion, surpassing the market forecast of RMB2.5 billion. Operating cash flow turned positive in 2H25, whereas management believed it can remain positive in the future. The broker maintained its forecast for Baidu's 1Q26, expecting the company's revenue to grow by 7% YoY this year, with adjusted operating profit up by 12%. The broker viewed that AI traffic competition poses a risk to the company, but the accelerated demand for AI infrastructure also presents opportunities. The rapidly growing AI business was deemed by the broker to be Baidu's core. The target price of USD180 was kept for Baidu (BIDU.US) in the US market and HKD176 for the Hong Kong market, with Buy rating reiterated for the company. The broker conservatively estimated that Kunlunxin will contribute USD18 billion to the company. AASTOCKS Financial News Website: www.aastocks.com |
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