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<Research>JPM Upgrades BIDU-SW (09888.HK) to Overweight, Upbeat on Cloud/ AI as Major Growth Engines
Recommend 9 Positive 14 Negative 2 |
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JP Morgan, in its research report, upgraded BIDU-SW (09888.HK) from Neutral to Overweight. The broker assumed that market attention is now focused on Baidu's cloud and AI as major growth engines and value drivers. The broker forecast Baidu's cloud revenue growth to accelerate to approximately 61% by 2026, versus an expected 23% in 2025, on the ride of massive growth in Kunlun chip sales. JP Morgan raised Baidu's H-share target price from HKD105 to HKD185, and Baidu's US stock target price from USD110 to USD188. Kunlun chip sales were forecast to rally 6x to RMB8.3 billion by 2026. AASTOCKS Financial News Website: www.aastocks.com |
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