智通财经网·2025-10-15 09:13Core Viewpoint - Daiwa has upgraded Baidu Group-SW (09888) from "Outperform" to a strategic "Buy" rating, raising the target price from HKD 92 to HKD 158, citing two key catalysts [1] Group 1: Catalysts - The first catalyst is the "Baidu World 2025" annual event scheduled for November 13 [1] - The second catalyst is the financial disclosure of improved performance in new business during the third-quarter earnings report at the end of November [1] Group 2: Market Outlook - Despite potential significant revisions to 2026 earnings due to Baidu's marketing business, there is optimism about Baidu's transformation from a marketing company to a technology company [1] - Limited investor holdings in the company may drive further stock price increases [1]