Rakuten Trade Research Reports
Foreign Equities (HK): BAIDU INC-CLASS A - BUY with 36.4% potential upside and positive technical indicators.
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Publish date: Mon, 28 Aug 2023, 10:21 AM
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All materials published here are prepared by Rakuten Trade. For latest offers on Rakuten Trade products and news, please refer to: https://www.rakutentrade.my/
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Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
TECHNICAL ANALYSIS
Baidu has been howering within the range of HKD120.80 and HKD155.60 for the past two months. Share price rebounded mildly in tandem with HSI with decent buying momentum observed. Fundamentally, Baidu's online marketing revenue rose by 15% YoY, primarily due to the adoption of AI to better match ads with Baidu search queries. MACD is poised for a potential crossover in the near future, thus share price is expected to move higher.
Fundamentals
Net profit is expected to grow at a CAGR of 55.3% for the next 3 years with stable net margins of around 18%.
Source: Rakuten Research - 28 Aug 2023
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