Daiwa released a research report saying that it maintains the target price of Xiaomi (01810) at HK $28, which is equivalent to 28 times the forecast market ratio. At the same time, it raised the group's revenue forecast from this year to 2023 by 2% to 5% to reflect the strong sales of hardware products. Rating upgraded from "Hold" to "Outperform". The bank believes that the recent correction in Xiaomi's stock price and the flexibility of its fundamentals under regulatory crackdowns have made Xiaomi more attractive. The company's performance in the second quarter of this year was stable and better than expected, and the gross profit margin of the hardware business during the promotion season was still better than the bank's expectations. Group Announces Acquisition of Autonomous Driving Technology Company Deep for New EV Business...
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