UOB Kay Hian issued a report, raising Baidu's (09888.HK) target price by 9.9%, from HKD 151 to HKD 166. It also raised the target price for its US-listed shares, maintaining a "Buy" rating. The firm is optimistic about Baidu's proposed spin-off of Kunlun Xin on the Hong Kong Main Board, believing it can help unlock Baidu's financial value and strengthen its AI ecosystem. Baidu announced the spin-off of Kunlun Xin earlier this month. After listing, it will remain a consolidated subsidiary of Baidu, with Baidu retaining a 59% stake. Given these factors, the firm maintained its revenue forecasts for Baidu for Q4 2025 and 2026, while lowering its adjusted net profit margin forecasts for the company by 3% and 1% respectively, expecting adjusted net profits of RMB 4.1 billion and RMB 19.1 billion.