On August 11, BIDU-SW fell 3.08% in regular trading, trading at HK$104.0/share, with turnover of HK$437 million. The decline came as Nomura Securities cut its target price on Baidu and market expectations for the upcoming quarterly report deteriorated.

Nomura lowered its target price on Baidu from $190 to $170 while maintaining a Buy rating. According to FactSet, the analyst consensus mean target price stands at $168.15. Meanwhile, Baidu is scheduled to release its Q2 earnings on August 18. Market consensus projects quarterly revenue of approximately RMB 32.34 billion, representing a year-over-year decline of 3.26%. Adjusted EPS is expected at approximately RMB 1.37, down 34.92% year-over-year, while EBIT is forecast at roughly RMB 3.54 billion, a 16.69% decline. The stock faces pre-earnings selling pressure against a backdrop of broadly lowered profit expectations.

Within the Interactive Media & Services sector, the overall sector traded lower. Among individual stocks, TENCENT down 2.28%, KUAISHOU-W down 4.02%, BILIBILI-W down 2.84%, MEITU down 1.66%, NEWBORNTOWN down 1.40%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)