[ET Net News Agency, 10 October 2018] J.P. Morgan lowered its target price for Xiaomi
Corporation (01810) to HK$18 from HK$21, and maintained its "overweight" rating.
The research house lowered its FY2019/20 operating profit forecasts by 11/12% to reflect
(1) slower China smartphone demand in 1H 2019, with no likely turnaround until 5G cycle
kicks in, (2) weaker headline Internet services revenue growth in the next several
quarters, due to consumption slowdown and uncertainty regarding gaming monetization in
China (see note from our Internet team).
JPM said Xiaomi continues to gain market share in global smartphones and move its
portfolio into higher-end products in China, but JPM expects unit growth to slow in 2019
due to market weakness. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
01810 XIAOMI-W
Nominal 
17.360 +0.760 (+4.578%) Others
10/10/2018 14:37
[I-bank focus]JP Morgan lowers Xiaomi (01810) to HK$18
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |