《大行報告》瑞信微升百度集團(BIDU.US)目標價至170美元 評級「跑贏大市」
瑞信發表報告,將百度(09888.HK)(BIDU.US)去年第四季核心搜尋業務收入預測下調5個百分點至按年跌7%,百度雲業務按季增幅預測亦由33%下調至低單位數百分比,指出中國迎來重新開放,大規模在家隔離及居家辦公趨勢將不再,因此整體將百度第四季核心利潤率由22%下調至19%。
該行預期,百度今年首季核心搜尋業務收入按年跌幅將達到約3%,憧憬疫情於春運後逐步受控,至第二季收入或可反彈至增長6%,至於雲端業務復甦步伐則預期較廣告慢。
瑞信指,百度今明兩年核心利潤率料維持在約23%,將百度今明兩年收入預測輕微下調1%,指出雖然雲端業務發展前景更審慎,但計及愛奇藝(IQ.US)的盈利能力,仍將百度(BIDU.US)目標價由169美元升至170美元,並維持「跑贏大市」評級。
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