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Stock impact report

Benchmark Raises Baidu (BIDU) Price Target to $215, Citing Kunlun Spinoff and Robotaxi Value [Yahoo! Finance]

Baidu, Inc. - American Depositary Shares, each representing 8 ordinary share (BIDU) 
Last baidu, inc. - american depositary shares, each representing 8 ordinary share earnings: 2/27 04:30 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.baidu.com
Company Research Source: Yahoo! Finance
on the stock to $215.00 (from $158.00) while maintaining a “Buy” rating. Firm analysts view the Kunlun spinoff and Robotaxi valuation reset as key catalysts for SoTP re-rating. Baidu recently announced a proposed spinoff and separate listing of Kunlunxin (Beijing) Technology Co., Ltd., a non-wholly owned subsidiary of the Company, on the Main Board of the Hong Kong Stock Exchange. Kunlunxin is Baidu's artificial intelligence chip subsidiary that Baidu plans to spin off as more domestic chipmakers are seeking funding amid Beijing's drive for semiconductor self-sufficiency. According to Benchmark, their price target raise for Baidu is reflection of clearer catalysts that will allow unlocking value from Baidu's underappreciated assets, leading to a SoTP re-rating. The AI chip subsidiary Kunlun spin-off is particularly seen as a significant catalyst by the firm. “In particular, we view the upcoming Kunlun spin-off as a major catalyst and have updated our SoTP to incorporate Kunlun's Show less Read more
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