麦格理：对百度集团-SW(09988)评级升至“跑赢大市” 目标价大幅上调至171港元

Core Viewpoint - Macquarie has upgraded the investment rating of Baidu Group-SW (09988) from "Neutral" to "Outperform" and significantly raised the target price from HKD 96 to HKD 171, citing the company's shift towards diversified revenue sources, particularly in AI cloud and autonomous driving, which provide positive optionality value [1] Group 1 - Baidu is transitioning to more diversified revenue sources [1] - The AI cloud and autonomous driving sectors are contributing positively to Baidu's valuation [1] - The chip design division is estimated to contribute one-third of Baidu's valuation based on a 20x price-to-sales ratio [1]