[ET Net News Agency, 3 June 2021] Daiwa initiates coverage of Baidu (09888) with a
target price of HK$335 and a "buy" rating.
The research house said it believes Baidu's yearlong investments in AI and autonomous
driving technologies have started bearing fruit, as management has mapped out more
detailed monetisation plans for its AI initiatives for 2021-23E, namely smart
transportation projects for the cities in China, Apollo pre-installation sold to
automakers, electric vehicle (EV) production and self-operated robotaxi services. It
believes these initiatives will bring further revenue acceleration to the company. (RC)