Asia Pacific Equity Research 11 July 2024 Overweight Baidu.com (BIDU) BIDU, BIDU US Price: $97.94 A case study of robotaxi operation in Shanghai: 10 Jul 2024 identifying path to profitability Price Target: $175.00 PT End Date: 31 Dec 2024 Baidu’s share price has significantly outperformed the sector average as Internet measured by KWEB by 10ppt in the past 5 trading days as investors have Alex Yao AC shifted focus to its robotaxi operation, in our view. We think such a (86 21) 6106 6505 robotaxi trade on Ba ...