JPMorgan downgrades Baidu on uncertainty over earnings, AI monetization

Investing.com11-28

Investing.com-- JPMorgan downgraded Baidu Inc (NASDAQ:BIDU) to “neutral” from “overweight” on Wednesday, citing declining earnings visibility due to uncertainties around China’s economic recovery and ...

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It also trimmed Baidu’s core operating margin projection by six percentage points.British PM opens Google-backed","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["rate","earning"],"viewcount":null,"language":"en","relate_stocks":{"BIDU":"百度","JPM":"摩根大通"},"translate_title":"摩根大通因盈利和人工智能货币化的不确定性而下调百度评级","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BIDU":1,"JPM":1},"content_text":"Investing.com-- JPMorgan downgraded Baidu Inc (NASDAQ:BIDU) to “neutral” from “overweight” on Wednesday, citing declining earnings visibility due to uncertainties around China’s economic recovery and the negative impact of generative AI content deployment on ad monetization.\nThe brokerage also cut its price target on Baidu’s shares to $85 from $105.\nBaidu, China’s largest search engine provider, derives most of its revenue from online advertising, which is under pressure amid slower economic growth in the country.\nWhile the bank expects core advertising revenue growth to bottom out in the first quarter of 2025 and gradually recover, it flagged uncertainty around the pace of the rebound, posing risks to market expectations.\nJPMorgan slashed its 2025 adjusted earnings per share estimate for Baidu by 21%, 17% below market consensus, after reducing its forecast for core advertising revenue by 7%. It also trimmed Baidu’s core operating margin projection by six percentage points.\nHowever, Baidu’s significant cash reserves, roughly 84% of its market capitalisation, offer a cushion, JPMorgan noted. The company’s cash valuation stands at just two times its estimated 2025 earnings, and its $1 billion annual capital return policy provides additional downside protection.\nBaidu’s U.S.-listed shares were trading at $84.69 on Wednesday.        \nRelated Articles\nJPMorgan downgrades Baidu on uncertainty over earnings, AI monetization\nExclusive-Exxon lobbyist investigated over hack-and-leak of environmentalist emails, sources say\nBritish PM opens Google-backed AI Campus to inspire students","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"rating","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2486808843"}