Initial Orders for Xiaomi's First EV Beat Expectations, Citi Says -- Market Talk

Dow Jones04-11

0124 GMT - Initial orders and market feedback for Xiaomi's SU7 electric vehicle have been better than expected, Citi analysts write in a note. The company booked orders for 1,100 units for its first EV in the first week of April and bookings for test drives remain in high demand, the Citi analysts note. Citi reckons there could be upside to its forecast of a CNY13 billion loss for the EV business if Xiaomi can ramp up production to reach 10,000 units per month. Better product mix could also help. Citi keeps a buy rating on the stock with a target price of HK$19.60. Shares last closed at HK$15.56. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

April 10, 2024 21:24 ET (01:24 GMT)

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Better product mix could also help. Citi keeps a buy rating on the stock with a target price of HK$19.60. Shares last closed at HK$15.56. 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The company booked orders for 1,100 units for its first ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1502","symbol_name":"双十一","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2426479555","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2426479555","pubTimestamp":1712798640,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0124 GMT - Initial orders and market feedback for Xiaomi's SU7 electric vehicle have been better than expected, Citi analysts write in a note. The company booked orders for 1,100 units for its first EV in the first week of April and bookings for test drives remain in high demand, the Citi analysts note. Citi reckons there could be upside to its forecast of a CNY13 billion loss for the EV business if Xiaomi can ramp up production to reach 10,000 units per month. Better product mix could also help. Citi keeps a buy rating on the stock with a target price of HK$19.60. Shares last closed at HK$15.56. 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