大行評級|招銀國際:上調百度目標價至149.2美元 相信今年雲業務增長勢頭將持續
招銀國際發表研究報吿指,百度去年第四季核心業務收入錄277億元,較市場普遍預期高出3.5%,季度百度核心業務非通用會計準則經營利潤46億元,亦較市場預期高1%。在強勁的AI相關GPU雲服務收入增長,以及從GPU雲服務向CPU雲服務和其他雲服務的交叉銷售的共同推動下,百度雲服務第四季收入按年增長26%,大幅超出市場預期。招銀國際相信,2025年雲業務增長勢頭將持續,業務調整所帶來的影響可能少於預期。基於雲業務表現,將2025年收入及非通用會計準則淨利潤預測分別上調1%及4%,給予“買入”評級,美股目標價升至149.2美元。
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