0321 GMT - Baidu's advertising revenue faces challenges in the near term, Deutsche Bank research analyst Leo Chiang says in commentary. Macro uncertainties and the continued transition in traffic from traditional search to generative AI search will likely continue to weigh on the advertising segment in 4Q, the analyst say. Chiang cuts his revenue forecasts on Baidu for 2024 and 2025 by 1% and 4%, respectively, Deutsche Bank keeps a hold rating on the stock and cuts its target price to HK$93.00 from HK$106.00. Shares are 5.2% higher at HK$81.90. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
November 25, 2024 22:21 ET (03:21 GMT)
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