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<Research>Jefferies Keeps BIDU-SW (09888.HK) Buy Rating with TP of HKD176
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At the ERNIE Moment conference in Shanghai, BIDU-SW (09888.HK) officially released ERNIE 5.0 and showcased its comprehensive Qianfan agent platform, addressing developers' pain points in model, tool usage, agent development, data services, and agent operations, Jefferies published a research report as saying.

Baidu released the official version of ERNIE 5.0, which performs strongly in omni-modal understanding, creative writing, and instruction following, and adopts a mixed expert architecture with 2.4 trillion parameters and integrates diffusion-based generation technology to achieve high-quality output, with a pre-training cycle speed quickened by 240%.

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The Qianfan platform provides a comprehensive agent platform, focusing on addressing challenges in performance, capability, and security of agent systems. It has 1.3 million agent systems with daily calls exceeding tens of millions. Baidu stands out with a complete service suite, including model, tool usage, agent development, data services, and agent environment.

The broker assigned a Buy rating on BIDU-SW with a target price of HKD176.
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