Xiaomi price target raised to $24 from $16 at Barclays

Barclays analyst Jiong Shao raised the firm’s price target on Xiaomi (XIACY) to $24 from $16 and keeps an Overweight rating on the shares. The company’s Q3 results featured stronger than expected revenues across all major segments with higher than expected margins, the analyst tells investors in a research note. The firm says Xiaomi is “firing on all cylinders.”