Yamato: Raised target price of Baidu Group-SW (09888.HK) to 162 Hong Kong dollars, reiterating "buy" rating.

According to the Zhixingtong Financial APP, Daiwa released a research report stating that the core business of Baidu Group-SW (09888.HK) in the third quarter of 2025 had slightly better revenue and operating profit than expected, with profit performance benefiting from other income and tax incentives. They reiterate their "buy" rating on Baidu and raise the target price from 158 Hong Kong dollars to 162 Hong Kong dollars. The report indicates that in the third quarter, Baidu's cloud service revenue increased by 21% year-on-year, and the company announced new financial disclosures for AI native products.