<h3>HSBC: Reiterates &#34;Buy&#34; rating on NVIDIA, raises target price from $1050 to $1350</h3>
<p>The bank believes that investors are currently underestimating the prospects of NVIDIA's artificial intelligence business, and there is still significant room for the stock to rise.</p>
<p>The bank also stated that NVIDIA will continue to demonstrate strong pricing power through its NVL36/NVL72 server systems and GB200 processor platform. Despite the significant increase in stock price, it is expected that Wall Street will still be amazed by the company's performance in the coming year.</p>
<h3>CICC: Raises NVIDIA's target price by 15% to $1000, maintains &#34;Outperform&#34; rating</h3>
<p>The report points out that NVIDIA is benefiting from stronger-than-expected demand for H-series AI accelerator chips. It is expected that the company's first quarter revenue for the fiscal year 2025 will exceed the company's earlier guidance of $24 billion, reaching an estimated $26.5 billion, a 268% year-on-year increase, surpassing the market's expected $24.07 billion by 10%. It is also expected that NVIDIA will achieve a non-GAAP net profit of $14.78 billion in the first quarter of the fiscal year 2025, a 445% year-on-year increase, exceeding the market's expected $13.7 billion by 8%.</p>
<p>The bank mentioned that the release of the GB200 NVL72 server architecture at GTC 2024, coupled with the expected mass production of H200 in the second quarter, will enhance the certainty of the full-year performance.</p>
<p>The bank believes that the computing unit GB200 NBL72 released at GTC 2024 can effectively optimize processing speed and power consumption for memory-intensive tasks, and customer feedback may exceed market expectations. Based on NVIDIA's earlier performance guidance, its H200 product is expected to ramp up shipments in the second quarter of this year.</p>
<p>Following GTC 2024, the bank believes that the market demand for NVIDIA's new server cabinets may exceed previous expectations, thereby boosting the certainty of full-year performance.</p>
<h3>Daiwa: Maintains &#34;Buy&#34; rating on Xiaomi-W, raises target price to HK$22.8</h3>
<p>The report states that Xiaomi is expected to announce its first quarter performance later this month, with estimated strong performance. Adjusted net profit is expected to increase by 70% year-on-year and 12% quarter-on-quarter to RMB 5.5 billion, mainly driven by the recovery of smartphone shipments, strong sales and profit margins in the IoT business, and stable control of operating expenses.</p>
<p>The bank pointed out that there will not be any major surprises in Xiaomi's smartphone business, with average selling prices expected to remain stable. The IoT business is benefiting from the sales of household goods and tablets, while the performance of internet services in the first quarter remains stable. In terms of automobiles, although the discounts offered by the SU7 have decreased, the continuous growth in locked orders in May is a positive signal.</p>
<h3>BofA Securities: Reiterates &#34;Buy&#34; rating on Li Auto-W, lowers target price from HK$168 to HK$160</h3>
<p>The report mentions that there is uncertainty in Li Auto's operating profit margin performance in the first half of the 2024 fiscal year, as sales of the company's high-margin model Mega are lower than expected; the depreciation rate has increased, along with faster production line efficiency; the increased sales contribution from the L6 model under the company will drag down the gross margin performance in the second quarter of this year.</p>
<p>The bank expects that Li Auto's comprehensive gross margin for the first and second quarters of 2024 will be 19.8% and 17.6%, respectively. However, it is also expected that the company's gross margin performance will benefit from increased sales and improved production efficiency of the L6 model in the second half of this year
The bank expects that Li Auto's sales in the second quarter of this year will be 106,000 units, lower than the previous forecast of 110,000 units. This is mainly due to factors such as lower demand for the Mega model than the bank's initial expectations, and the time needed to increase production of the L6 model.</p>
<p>It is also expected that the sales of the Mega model in the first and second half of this year will be 8,700 units and 10,600 units respectively. As for the L6 model sales, it is expected to achieve a sales growth of 25,500 units in the second quarter of this year, accounting for 24% of the total car sales during the same period.</p>
<h3>Nomura: Maintains &#34;Buy&#34; rating on Hong Kong Exchanges and Clearing, with a target price raised to HKD 330.58</h3>
<p>The bank believes that the potential dividend tax exemption for Stock Connect is a positive factor. It has also raised its profit forecasts for the fiscal years 2024 and 2025 by 2% each, and increased its forecasts for average daily turnover (ADT) by 4% and 3% respectively. It is expected that net profit for the fiscal years 2024 and 2025 will increase by 4% and 6%, mainly benefiting from the growth in ADT, with year-on-year increases of 5% and 11% expected in 2024 and 2025.</p>
<h3>TD Cowen: Raises Novavax's target price from $5 to $10, maintains &#34;Hold&#34; rating</h3>
<h3>Macquarie: Raises Disney's target price to $107, maintains &#34;Neutral&#34; rating</h3>
<p>However, the bank also points out that despite being optimistic about Disney's long-term development, considering the uncertainty in the global economic environment and intensified competition in the industry, Disney's stock price may experience fluctuations in the short term</p>

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<p>HSBC raised NVIDIA's target price from $1050 to $1350, believing that investors currently underestimate the prospects of NVIDIA's artificial intelligence business, and that the stock still has a significant upside potential</p>

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Rating Quick Look | NVIDIA, Xiaomi Target Prices Significantly Raised! Li Auto Faces Price Cuts