OCBC maintains Baidu at 'buy', says company is 'on track to benefit from recovery'

The research team at OCBC Investment Research believes that Baidu Inc remains “on track to benefit from the recovery in SME ad demand” given that the worst of the Covid-19 pandemic is behind us.

Furthermore, the team believes that daily active users (DAU) for Baidu’s app should exhibit healthy growth, which should, in turn, lay the foundation for the company’s in-app initiatives.

Baidu has also announced that it plans to establish a company to produce intelligent electric vehicles, and that it has entered into a strategic partnership with automotive company, Geely.