Mar 05, 2021 09:08 AM (GMT+8) · EqualOcean
CITIC Securities released a research report that: thanks to the recovery of the domestic online advertising market, as well as the optimization of Baidu's own product & operation level, and the low base of this year, baidu advertising is expected to resume double-digit growth in 2021, and the commercialization of innovative business is also expected to accelerate. Using segment valuation, Baidu's reasonable valuation should be in the order of US $120 billion in 2021, corresponding to the target price of US $360 / ADR, corresponding to the PE of 2021's overall business is 33 times, giving a "buy" rating. The positive progress of auto companies is expected to provide higher valuation flexibility for the company.

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