＜Research＞CLSA Chops Baidu (BIDU.US) TP to US$145, Expects 2Q Adj. EBIT to Rise 1.7% YoY

　　Baidu, Inc. (BIDU.US) 's 2Q24 results may dragged down by a weak macro environment and the erosion of AI search, CLSA issued a research report saying.

　　CLSA expected Baidu's core total revenue to grow only 0.5% YoY to RMB26.5 billion, while adjusted EBIT to rise 1.7% YoY to RMB6.6 billion.

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　　CLSA believed that Baidu maintained stable margin under strict cost control. Meanwhile, CLSA lowered its adjusted EBIT forecast by about 3%, and chopped its target price for Baidu's US stock from US$158 to US$145, with rating kept at Outperform.

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