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<Research>Nomura Drops Baidu (BIDU.US) TP to US$95, Rating Neutral
Recommend 8 Positive 13 Negative 7 |
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BIDU-SW (09888.HK)(BIDU.US) ultimately decided to confront the intensified competition in the AI search market, according to Nomura's research report. While accelerating its AI search, BIDU-SW also sacrificed its own search advertising business. The broker anticipated that AI search may become the mainstream search method in the future due to its efficiency and convenience. As of 1Q25, the proportion of content generated by BIDU-SW's AI search in search results increased from 11% a year ago to 35%, and it expected to raise the share to over 50% in the short term. Therefore, the broker dropped its target price for the Group's US stock from US$98 to US$95, with rating at Neutral. AASTOCKS Financial News Website: www.aastocks.com |
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