Find Out All About Mizuho's Top China Internet Sector Pick

  • Mizuho analyst James Lee recently hosted an investor call with Baidu, Inc BIDU management. 
  • Firstly, Lee noted that the reopening has been orderly, and advertising is recovering faster than Cloud. 
  • Secondly, for adverting, post reopening, he expects rational competition with GDP+ growth and stable margins at 40%+ OPM. The interoperability framework could enable share gains over time. 
  • Thirdly, for Cloud, Baidu is positioned as a market share gainer with significant opportunities from traditional industries. Its vertically integrated solution is a crucial differentiation. 
  • Fourthly, for ADAS, OEMs represent the enormous opportunity near-term, and Baidu has significant leadership in testing miles, unit cost, and connected infrastructure to build its ten billion+ RMB pipeline. 
  • Lee maintained a Buy on Baidu as a top China internet pick and a $285 price target. 
  • Price Action: BIDU shares traded lower by 2.21% at $147.98 on the last check Thursday.

Posted In: BriefsNewsPrice TargetReiterationAnalyst RatingsTech

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