《大行報告》花旗下調百度(BIDU.US)目標價至181美元 料次季業績符預期
花旗發表研報指,百度(09888.HK)(BIDU.US)將在8月中旬發布今年次季業績,預期業績表現將符合該行及市場預期,受惠於線下垂直行業廣告支出持續反彈,預測百度次季核心廣告收入將按年增長11.5%,達到191億元人民幣。同時,由於智能交通項目的延誤,預測百度智能雲收入將增長3%至43.9億元人民幣。
該行現時預計百度第二季淨收入將按年增長12.8%至334.6億元人民幣,非通用會計準則下每股ADS盈利料達14.48元人民幣。核心業務收入預期增長10.8%至257億元人民幣,當中非廣告業務收入將增長9%至66億元人民幣。
花旗指出,進入第三季廣告及雲端業務持續改善,但考慮到去年基數相對較高,目前保守地將第三季度廣告收入預期下調至按年增長5.6%,百度智能雲收入料按年增長10%。
該行並將2023至2025年公司整體收入預測下調0.9%、0.8%及0.9%,非通用會計準則下淨利潤預測下調1.3%、1.1%及1.3%,以反映來自愛奇藝(IQ.US)的影響及雲端業務收入放緩。花旗下調百度美股目標價,由184美元降至181美元,維持「買入」評級。
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