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《大行報告》匯豐研究降百度(09888.HK)目標價至161.2元 廣告及雲計算業務中短期面臨挑戰
百度-SW((09888.HK)今早股價捱沽,最新報96.6元下挫7.5%。匯豐環球研究發表報告,料百度旗下廣告和雲計算業務收入增長在短中期可能面臨更多挑戰。而美國芯片出口限制帶來的影響料被目前有限的使用場景和自主開發的芯片能力所緩衝。 該行將百度目標價由195元下調至161.2元,維持「買入」評級。 匯豐環球研究預計,百度今年第三季核心收入將按年持平,非營銷收入按年增長19%,由雲計算收入按年增長20%推動。惟預計核心營銷收入將按年下降5%。考慮到移動生態系統業務的持續成本控制和新業務的虧損收窄,估計百度的核心非公認會計準則下的經營利潤率按季持平爲22%。
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