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<Research>G Sachs Highlights XIAOMI's Investor Day Next Tue, Expects Mgmt to Reiterate Commitment to Handset & Mkt Share Growth
Recommend 19 Positive 34 Negative 6 |
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Goldman Sachs issued a research report on XIAOMI-W (01810.HK), focusing on its investor day next Tuesday. At the group level, the broker expected management to reaffirm its commitment to handset and market share growth, and is also concerned about the group's ability to achieve scale and profitability by controlling operating expenses. The broker would remain focused on the group's investment in AI research and development, and its new strategy for international markets. Goldman said XIAOMI's revenue and handset shipments may continue to recover YoY this year, driven by industry recovery and market share growth in China and globally. Although handset gross margins are under pressure due to higher BOM costs, core gross margins and operating profit are expected to remain stable due to premiumisation, Internet revenue growth and prudent operating expenses. Meanwhile, the broker is optimistic about the gradual valuation realisation of its electric vehicle business. Goldman rated XIAOMI Buy with a target price of $20. AAStocks Financial News |
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