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<Research>BOCOMI Initiates XIAOMI-W at Buy with $60 TP
Recommend 11 Positive 20 Negative 8 |
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BOCOMI issued a research report, initiating a rating Buy on XIAOMI-W (01810.HK) with a target price of HKD60, corresponding to a 26x P/E ratio for its 2026 smartphone and AIoT business forecasts and a 2x P/S ratio for its automotive business. Xiaomi’s March announcement of top-up placing 800 million B-shares supports core business expansion, likely benefiting its long-term share price, the broker opined. Recent share price pullbacks may present buying opportunities for investors. BOCOMI forecast Xiaomi’s revenue to grow 33% and 20% YoY in 2025 and 2026, respectively, with adjusted net profit reaching RMB38.1 billion and RMB50.3 billion. The broker also expected the automotive business to turn profitable this year. AAStocks Financial News |
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