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<Research>BOCI Drops Baidu (BIDU.US) TP to US$128.01 as Quarterly Earnings Miss
Recommend 7 Positive 7 Negative 5 |
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Baidu, Inc. (BIDU.US)'s 3Q24 core revenue was flat YoY, leading to a 19% YoY fall in non-GAAP net income to RMB5.9 billion, missing expectations, according to a research report issued by BOCI. BOCI remained cautious on the Company's advertising growth in 4Q24, but was positive on the long-term profit outlook supported by generative AI. Therefore, the broker reiterated rating at Buy, and dropped its target price on Baidu's US stock to US$128.01 from US$135.79. AAStocks Financial News |
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