Analysts Weigh Baidu's Position Amidst Geopolitical Pressures and Technological Advancements
Portfolio Pulse from Anusuya Lahiri
Analysts from Benchmark, Mizuho, and Citigroup have reiterated their 'Buy' ratings on Baidu Inc (NASDAQ:BIDU), despite geopolitical pressures and technological advancements. Baidu's 2Q results were solid, with healthy ad growth expected in 3Q. The company's exposure to offline mobility-driven industries and its technology infrastructure are seen as strengths. However, FY23 revenue estimates were lowered due to slower-than-expected cloud growth. Baidu's shares traded higher by 2.39% at $131.48.
August 23, 2023 | 6:21 pm
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POSITIVE IMPACT
Analysts maintain a positive outlook on Baidu, despite geopolitical pressures and technological advancements. The company's solid 2Q results and expected healthy ad growth in 3Q are seen as strengths. However, FY23 revenue estimates were lowered due to slower-than-expected cloud growth.
The analysts' positive outlook on Baidu, despite geopolitical pressures and technological advancements, is likely to boost investor confidence and potentially drive the stock price up in the short term. However, the lowered FY23 revenue estimates due to slower-than-expected cloud growth could create some uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100