Research Report Goldmine | CICC: Raises Baidu Hong Kong Stock Target Price to HKD 196, Maintains "Outperform" Rating

Glonghui News, January 9 | CICC published a report stating that on January 6, Baidu announced its autonomous driving platform, Apollo Go, officially received a fully driverless testing permit from the Dubai Roads and Transport Authority, making it the first and currently only platform authorized to conduct fully driverless tests in Dubai. The company expects Apollo Go's fully driverless fleet in Dubai to expand to over 1,000 vehicles. CICC basically maintains its revenue and non-GAAP net profit forecasts for Baidu for 2025/2026 and introduces new forecasts for 2027, with revenue and non-GAAP net profit projected at RMB 135 billion and RMB 22.1 billion, respectively. The bank maintains its “Outperform” industry rating for Baidu and raises the target price for its US and Hong Kong shares by 8.5% and 7%, to USD 205 and HKD 196, respectively.