Core Viewpoint - Baidu's Q3 performance exceeded market expectations despite a decline in online marketing service revenue, offset by growth in cloud revenue [1] Group 1: Financial Performance - Baidu's online marketing service revenue decreased year-on-year, but this was partially mitigated by an increase in cloud revenue [1] - The company is expected to see a 1.4% year-on-year decline in core revenue for Q4, with marketing service revenue projected to drop by 12.5% and AI cloud revenue anticipated to grow by 15% [1] Group 2: Investment Outlook - Improvements in operational metrics and AI revenue disclosures, along with ongoing investments in the Wenxin Yiyan model and AI agents, are expected to boost investor confidence in Baidu's operational outlook and stock performance [1] - The target price for Baidu has been raised from $166 to $181, maintaining a buy rating due to positive developments in cloud business and autonomous ride-hailing services [1]
大行评级丨花旗：上调百度美股目标价至181美元 维持买入评级
Ge Long Hui·2025-11-19 01:21