Guangda Securities: Maintains a "buy" rating on Baidu Group - SW (09888) Cloud computing, intelligent driving, and self-developed chips open up valuation space.

According to the Zhixin Finance and Economy APP, Guotai Junan Securities released a research report stating that due to the recovery in advertising demand, companies such as Luobo Kuaipao and Kunlun Core are expected to contribute more than expected to performance growth. They have raised the Baidu Group-SW (09888) 25-27 year revenue forecast to 1308/1399/1483 billion yuan (an increase of +1.3%/+2.9%/+3.0% from the previous forecast), and raised the company's 25-27 year Non-GAAP net profit forecast to 182/205/230 billion yuan (an increase of +1.5%/+3.3%/+3.3% from the previous forecast). The current price corresponds to a PE ratio of 18x/16x/14x, and they maintain a "buy" rating.