On June 24, Baidu Group-SW rose 3.44% in regular trading, trading at 108.5 HKD/share, with turnover of 5.18 billion HKD. The stock rebounded from consecutive sessions of decline earlier in the week following a fresh endorsement from a major investment bank.

On the news front, Citi recently published a research report initiating a 30-day positive catalyst watch on Baidu Group-SW, assigning a Buy rating. Analyst Alicia Yap highlighted that the intrinsic strength of Baidu's chip and cloud businesses could serve as catalysts for share price appreciation. Citi noted that while it is difficult to predict when overall market sentiment will shift, there remains an opportunity to unlock value once the timeline for Baidu's chip business spinoff and market interest become clearer.

The positive stance from Citi helped alleviate market concerns over the company's transition period between legacy and new growth engines. Baidu's Q1 results previously showed AI cloud revenue of RMB 8.8 billion, up 79% year-over-year, with GPU cloud revenue surging 183%, while traditional advertising revenue declined 28%, underscoring the ongoing business mix shift.

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