Morgan Stanley has released a research report predicting that XIAOMI-W (01810) will achieve a record high average selling price for its smartphones in the first quarter, driven by the need to pass on cost pressures. Despite widespread market expectations of a negative impact from soaring memory costs, the investment bank anticipates that the company's profit margin will instead deliver better-than-expected performance. Morgan Stanley maintains an "Overweight" rating on the stock with a target price of HK$45.
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