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《大行報告》匯豐研究下調百度(09888.HK)目標價至190元 指廣告業務前景遇挑戰
匯豐研究發表報告指,百度(09888.HK)第三季業績基本符合預期,但廣告業務前景遇挑戰,因此將目標價由195元下調至190元,同時將2021至2022年的經調整純利預測削減4%至5%。 匯豐研究指,百度第三季核心業務收入按年增長15%,由雲計算驅動的非營銷業務收入按年增長76%,符合指引和市場共識。虧損主要來自一次性的189億元人民幣長期投資虧損,以及前廣告代理商的法律程序或有損失(9.76億元人民幣)所致。至於百度核心業務第四季的收入指引是按年增長5%至16%,符合共識。
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