Core Viewpoint - Morgan Stanley upgraded Baidu's investment rating from "Neutral" to "Overweight," highlighting that the market is increasingly focused on its cloud and AI businesses as primary growth engines and value drivers [1] Group 1: Revenue Growth Projections - Baidu's cloud revenue growth is expected to accelerate to approximately 61% by 2026, compared to an estimated 23% for this year, driven significantly by a substantial increase in Kunlun chip sales [1] - Morgan Stanley estimates the valuation of Baidu's cloud business to be around $34 billion, suggesting that the market may be underestimating its transformation potential [1] Group 2: Price Target Adjustments - Morgan Stanley raised Baidu's target price for Hong Kong shares from HKD 105 to HKD 185, and for U.S. shares from USD 110 to USD 188 [1] - The forecast for Kunlun chip sales is projected to grow sixfold to CNY 8.3 billion by 2026 [1]
大行评级丨摩根大通：大幅上调百度港股目标价至185港元 评级升至“增持”
Ge Long Hui·2025-11-24 06:12