Daiwa: Upgraded BIDU-SW (09888) to "buy", target price raised to 158 Hong Kong dollars.

Daiwa released a research report stating that the rating of BIDU-SW (09888) has been upgraded from "outperform the market" to strategically "buy", with the target price raised from 92 Hong Kong dollars to 158 Hong Kong dollars. The bank believes there are two recent catalytic factors, including the "Baidu World 2025" annual event on November 13th and the financial disclosure of improved performance of new businesses in the third quarter earnings report at the end of November. The bank pointed out that while Baidu's marketing business may significantly affect profit performance in 2026, it believes in the prospect of Baidu transforming from a network marketing company to a technology company, and with limited investor holdings in the company, this may drive the stock price further up.