《大行》高盛:百度(09888.HK)AI價值加速釋放 重申「買入」評級
高盛發表研究報告,預期百度(09888.HK)(BIDU.US)搜索業務的下行趨勢已被投資者充分消化,並反映於盈利預期當中,目前估計第三季將受廣告去槓桿化影響最多,核心經營利潤料按年跌70%,但計及非搜索業務快速增長及AI價值加速釋放等因素,仍重申「買入」評級。
高盛預計百度非搜索業務收入將於2027年佔核心收入約54%,其中雲業務佔36%,看好百度雲從晶片、平臺到AI應用的全棧能力具核心競爭力,同時對Apollo Robotaxi看法更趨向正面,該行將百度目標價從88元上調至150元,認爲當前風險回報吸引。
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