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

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·1 min read
In this article:
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  • Mizuho analyst James Lee recently hosted an investor call with Baidu, Inc (NASDAQ: 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.

Latest Ratings for BIDU

Date

Firm

Action

From

To

Mar 2022

Susquehanna

Maintains

Positive

Mar 2022

China Renaissance

Maintains

Buy

Jan 2022

Mizuho

Maintains

Buy

View More Analyst Ratings for BIDU

View the Latest Analyst Ratings

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