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《大行》摩通降百度(09888.HK)目標價至90元 維持「中性」評級
摩根大通發表報告指,百度(09888.HK)(BIDU.US)股價在過去一個月表現低於行業平均值12個百分點,原因是投資者對百度過渡至人工智能驅動的搜索結果頁的擔憂日益增加,以及人工智能搜索提供商帶來的挑戰。該行維持對百度「中性」評級,對百度港股和美股目標價由100美元和100港元降至90美元和90港元。 該行預期,當搜索引擎供應商增加搜索結果頁面中人工智能內容的覆蓋範圍,但未將人工智能內容變現時,百度的廣告收入在未來兩個季度將持續受阻。該行預期增加人工智能內容覆蓋率所帶來的影響將於第三季見頂,顯示百度第四季可能出現增長復甦。然而現時並不清楚人工智能內容是否會在第四季即時帶來盈利。
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