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<Research>JPM Downgrades BIDU-SW (09888.HK) to Neutral, Axes TP to $85
Recommend 1 Positive 4 Negative 2 |
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JPMorgan issued a report downgrading BIDU-SW (09888.HK) from Overweight to Neutral, primarily owing to the uncertainty in the pace of macroeconomic recovery, which has sharply reduced the company's earnings visibility. In addition, the negative impact of the company's gen AI content deployment on monetization remains uncertain. Based on BIDU-SW's previous return of US$1 billion to shareholders, the broker believes that the company's current stock price has limited downside potential. The broker axed its target price for the company from $125 to $85. AAStocks Financial News |
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