[ET Net News Agency, 2 November 2023] Citi raised its target price for Xiaomi (01810)
to HKD17.1 from HKD15.7 and maintained its "buy" rating.
The research house said it believes Xiaomi's share price will be supported by strong
results and GM performance, upward earnings revision from investors for 2023 adjusted
earnings and low expectation on EV launch.
New Redmi Note launch will also likely support 1H24 shipment. It raises 2023/24/25
earnings by 15%/3%/4% on better-than-expected GM. (RC)