Citi: Raises BIDU-SW (09888) target price to HK$159.49, maintains "outperform" rating.

CGS-CIMB Research released a research report stating that it has raised the target price of BIDU-SW (09888) Hong Kong stocks from 97.25 Hong Kong dollars to 159.49 Hong Kong dollars, an increase of 64%. It also raised the target price of Baidu Inc Sponsored ADR Class A (BIDU.US) US stocks from 100 US dollars to 164 US dollars, also a 64% increase, while maintaining an "outperform" investment rating. CGS-CIMB Research expects that Baidu Inc Sponsored ADR Class A's performance in the third quarter of the 2025 fiscal year may be in line with the bank's expectations/institutional consensus. Despite the continuous transformation of the GenAI search business, the steady growth of cloud services (22% annual growth) and the 27% growth of non-advertising businesses offset this impact. CGS-CIMB Research's profit forecast for Baidu Inc Sponsored ADR Class A for the 2027-2028 fiscal years remains essentially unchanged.