BUZZ-Baidu's Hong Kong shares fall after results, Daiwa trims TP

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BUZZ-Baidu's Hong Kong shares fall after results, Daiwa trims TP

Reuters2021-08-13

** Hong Kong shares of Chinese tech giant Baidu Inc fall 3.8% to HK$153, the lowest since July 28

** Stock extends decline for a third straight session, tracking a slide in the overseas market

** Baidu's quarterly results topped Wall Street estimates on Thursday, as the Chinese search giant benefited from a rebound in advertising sales and higher demand for its artificial intelligence and cloud products

** Baidu's U.S. shares slid 3.2% even after the company posted the upbeat quarterly revenue

** Brokerage Daiwa maintains "buy" rating on Baidu's Hong Kong shares after solid Q2, but trims TP to HK$280 from HK$335 on lower target valuation for marketing and EV businesses amid reduced regulatory risk appetite of the market

** The Hang Seng Tech Index falls 2.5% and the Hang Seng Composite Index slides 1%

** The Hang Seng China Enterprises Index drops 1.3% and the benchmark index eases 0.9%

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Targarean
·2021-08-13
Oh gawd, BIDU ?
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NAMNORIMAI
·2021-08-13
Good
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  2021-08-13
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