Baidu Likely to See Slow Advertising, Solid Cloud Growth in 1Q -- Market Talk

Dow Jones04-10

0429 GMT - Baidu is likely to see slow growth in advertising while cloud growth remains solid in 1Q, according to CCB International analyst Cathy Chan says a research note. Dragged by the soft macro environment, advertisement recovery in several verticals such as franchise and property, has been slower than expected, the analyst notes. Chan notes that the contribution from AI to Baidu's cloud business is likely to rise and serve as a key driver for the segment throughout this year. The analyst keeps an outperform rating but trims Baidu's ADR target price to $142.00 from $143.30 to factor in CCB's lower earnings forecast to reflect the slow ads recovery. The ADR last closed at $103.50. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

April 10, 2024 00:29 ET (04:29 GMT)

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The analyst keeps an outperform rating but trims Baidu's ADR target price to $142.00 from $143.30 to factor in CCB's lower earnings forecast to reflect the slow ads recovery. The ADR last closed at $103.50. 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Dragged by the soft macro ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1095","symbol_name":"互动媒体与服务","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2426481504","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2426481504","pubTimestamp":1712723340,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0429 GMT - Baidu is likely to see slow growth in advertising while cloud growth remains solid in 1Q, according to CCB International analyst Cathy Chan says a research note. Dragged by the soft macro environment, advertisement recovery in several verticals such as franchise and property, has been slower than expected, the analyst notes. Chan notes that the contribution from AI to Baidu's cloud business is likely to rise and serve as a key driver for the segment throughout this year. The analyst keeps an outperform rating but trims Baidu's ADR target price to $142.00 from $143.30 to factor in CCB's lower earnings forecast to reflect the slow ads recovery. The ADR last closed at $103.50. 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Dragged by the soft macro environment, advertisement recovery in several verticals such as franchise and property, has been slower than expected, the analyst notes. Chan notes that the contribution from AI to Baidu's cloud business is likely to rise and serve as a key driver for the segment throughout this year. The analyst keeps an outperform rating but trims Baidu's ADR target price to $142.00 from $143.30 to factor in CCB's lower earnings forecast to reflect the slow ads recovery. The ADR last closed at $103.50. 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