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CLSA cuts its Baidu (BIDU.O) US target to $150 from $176 and keeps an OUTPERFORM rating. The bank forecasts 2Q26 core revenue down 4.2% YoY to RMB25.1bn, with search marketing revenue falling about 22% YoY. AI cloud infrastructure revenue is seen up

2026-07-16

CLSA cuts its Baidu (BIDU.O) US target to $150 from $176 and keeps an OUTPERFORM rating. The bank forecasts 2Q26 core revenue down 4.2% YoY to RMB25.1bn, with search marketing revenue falling about 22% YoY. AI cloud infrastructure revenue is seen up 56% YoY to RMB7.6bn and subscription revenue growth accelerating further from 184% YoY in 1Q. CLSA forecasts adjusted EBIT for the quarter down 14% YoY to RMB3.8bn, implying an adjusted EBIT margin of roughly 15%, citing a decline in high-margin online marketing revenue and higher model-training investment. It warns that a bumpy AI transition, weak model competitiveness and a cloud business lacking MaaS and application revenue could further pressure search and cloud monetization. CLSA trims its 2026 and 2027 adjusted net profit estimates by 24% and 18%, respectively.

Other News
2026-07-16

China A-share PCB sector rebounded. Xianfeng Holdings posted a third consecutive daily limit-up; Yihao New Materials rose over 10%. Jingwang Electronics, Nanya New Materials, Guanghe Technology and Pengding Holdings are also advanced.

China A-share PCB sector rebounded. Xianfeng Holdings posted a third consecutive daily limit-up; Yihao New Materials rose over 10%. Jingwang Electronics, Nanya New Materials, Guanghe Technology and Pengding Holdings are also advanced.
2026-07-15

Bank of Canada: Recent indicators show continued strong consumer spending. Government spending is driving higher expected growth.

Bank of Canada: Recent indicators show continued strong consumer spending. Government spending is driving higher expected growth.
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