Summary
- Baidu reported excellent Q3 2022 results, beating analyst estimates with regards to both revenue and earnings.
- Moreover, with the tailwind of an improving COVID situation in China, management also gave an upbeat outlook for Q4 and going into 2023.
- Baidu stock is up approximately 31% since I have argued that the stock could rebound fast and aggressively. But there is still more room to go.
- Anchored on a strong Q3 as well as confident management commentary for Q4 2022 and early 2023, I am confident to reiterate a 'Buy' recommendation for BIDU.
For further details see:
Baidu: The Rally Can Continue