0507 GMT - Baidu is likely to benefit from strong AI business, say HSBC analysts in a commentary. The tech company's 4Q cloud revenue came in "meaningfully ahead of consensus" on stronger application programming interface demand, the analysts say. HSBC expects this growth momentum to sustain in 2025, with rising AI adoption from customers and cross-selling opportunities for AI infrastructure in the coming months. HSBC maintains a hold rating and raises target price of its ADRs slightly to US$94.00 from US$93.00. The ADRs last traded at US$88.03, while the Hong Kong-listed shares are down 2.7% at HK$85.95. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
February 20, 2025 00:07 ET (05:07 GMT)
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