Analyst Johnny Yum of UOB Kay Hian maintained a Buy rating on Xiaomi (XIACF – Research Report), with a price target of HK$63.90.
Johnny Yum has given his Buy rating due to a combination of factors that highlight Xiaomi’s strong financial performance and growth potential. The company’s fourth-quarter results for 2024 showed a significant increase in net profit, reaching Rmb8.3 billion, which surpassed both UOB Kay Hian’s and consensus expectations. This impressive performance was driven by robust sales across its smartphone, IoT, and Internet services segments, despite a slight miss in gross margins.
Moreover, Xiaomi’s strategic initiatives for 2025, such as raising its electric vehicle sales target to 350,000 units and projecting smartphone shipments to exceed 180 million units, underscore its commitment to expanding market share. These positive developments, along with the company’s ability to outperform revenue expectations, have led to an increased target price of HK$63.90, reinforcing the Buy recommendation.
In another report released today, CMB International Securities also reiterated a Buy rating on the stock with a HK$59.52 price target.
Questions or Comments about the article? Write to editor@tipranks.com