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<Research>JPM Lifts BIDU-SW's TP to HKD195; Early AI Momentum Begins to Galvanize Rev. Stabilization
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BIDU-SW (09888.HK) is entering a new phase in 4Q25, with its AI-driven transformation becoming clearer in JPMorgan's view, the broker wrote in its report. As indicated by early signs, user adoption of BIDU-SW's AI capabilities, integration of AI products with existing mobile internet services, and operational efficiency have begun to show enhancements. JPMorgan also expects that BIDU-SW's core revenue continued improving in 4Q25, with a slowdown in the YoY decline of advertising revenue, while the AI cloud business remained strong. These factors collectively suggest that BIDU-SW is beginning to convert its AI investments into more sustainable operational momentum. The broker raised its target prices for BIDU-SW (09888.HK) from HKD185 to HKD195 and for Baidu (BIDU.US) from USD188 to USD200. AAStocks Financial News |
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