China International Capital Corporation: Downgrades Xiaomi Corporation (W) target price to HKD 67, maintains "Outperform" rating
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CITIC International lowered the target price for Xiaomi Corporation-W to HKD 67, maintaining an "Outperform" rating. Due to the decline in profit margins for the Internet of Things and smartphones, it has slightly adjusted the forecasts for the fiscal years 2025/2026/2027. It is expected that in the third quarter of 2025, revenue will increase by 22% year-on-year to HKD 112.7 billion, with net profit of HKD 9.7 billion, a year-on-year increase of 55%. Electric vehicle deliveries are expected to reach 108,800 units, with revenue of HKD 28.7 billion
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