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.
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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Created by rakutentrade | Aug 23, 2024