Rakuten Trade Research Reports
Foreign Equities (HK): BAIDU INC-CLASS a - BUY with 35.7% potential upside and positive technical indicators
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Publish date: Mon, 02 Oct 2023, 08:56 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/
To sign up for an account: http://bit.ly/40BNqKI
Rakuten Trade
Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
TECHNICAL ANALYSIS
BAIDU has entered into a consolidation mode after reaching its 52-week peak of HK$166.30 on Feb-23. Buying momentum remains intact with resistance level found at HK$134.50. Its MA 200 and MA 20 lines as well as MACD are poised for a potential crossover in the near term, hence share price is expected to move higher.
Fundamentals
Net profit is expected to grow at a CAGR of 54% for the next 3 years with net margins ranging between 17%-19%.
Source: Rakuten Research - 2 Oct 2023
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