Citi Trims Baidu (BIDU.US) Price Target by 7.2%, Expects Q3 AI Cloud Infrastructure Revenue to Jump 99% YoY

Deep News10-22 15:11

Citi has issued a research report stating that it expects Baidu (BIDU.US) to announce its third-quarter results in mid-November.

Driven by robust demand, Baidu's Q3 AI cloud infrastructure revenue is projected to rise 99% year-on-year to RMB 8.35 billion, though core advertising revenue may decline 21% year-on-year.

Based on a comprehensively adjusted financial model and downward revisions to sector valuations, Citi has lowered its sum-of-the-parts valuation target price for Baidu by 7.2%, from US$166 to US$154, while maintaining a "Buy" rating.

The bank believes that Baidu's current valuation is not expensive and that multiple catalysts lie ahead to support the stock, including the highly anticipated announcement of its first-ever dividend.

Additionally, due to increased R&D investment in large model training and AI-derived applications, market expectations for Baidu's core adjusted operating profit and net profit may face downside risks.

Looking ahead to the fourth quarter, Citi expects Baidu's AI cloud infrastructure revenue to grow a further 14% quarter-on-quarter to RMB 9.5 billion on a high base, supporting a 0.5% year-on-year increase in general business revenue.

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\"Buy\" rating.<br><br>The bank believes that <b>Baidu</b>'s current valuation is not expensive and that multiple catalysts lie ahead to support the stock, including the highly anticipated announcement of its first-ever dividend.<br><br>Additionally, due to increased R&D investment in large model training and AI-derived applications, market expectations for <b>Baidu</b>'s core adjusted operating profit and net profit may face downside risks.<br><br>Looking ahead to the fourth quarter, Citi expects <b>Baidu</b>'s AI cloud infrastructure revenue to grow a further 14% quarter-on-quarter to RMB 9.5 billion on a high base, supporting a 0.5% year-on-year increase in general business revenue.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4574","symbol_name":"无人驾驶","start_time":0,"source_url":"","article_id":"1139192297","we_media_id":"1039043262","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1139192297","pubTimestamp":1792653112,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Deep News","introduction":"Global Stock Market Deep Analysis","home_visible":1,"id":"1039043262","head_image":"https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922"},"summary":"Citi has issued a research report stating that it expects Baidu (BIDU.US) to announce its third-quarter results in mid-November.Driven by robust demand, Baidu's Q3 AI cloud infrastructure revenue is...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4574":"无人驾驶","LU0173614495.USD":"富达中国焦点A","BIDG":"2倍做多BIDU ETF-Leverage 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