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<Research>Citi: XIAOMI-W (01810.HK) Shr Price Still Supported by Solid Core Earnings, NEV Profit
Recommend 18 Positive 29 Negative 10 |
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XIAOMI-W (01810.HK) announced that Xiaomi SU7 delivery exceeded 10,000 units in August 2024, marking the 3rd consecutive month of recording over 10,000 deliveries, Citi Research issued a research report saying. Citi Research also maintained its expectation that the Company will meet its full-year target of 100,000 deliveries in November. The broker believed that XIAOMI-W's yearly deliveries have reached more than 50% of its 100,000 target, or about 45% of its 120,000 target. Citi Research expected that XIAOMI-W's share price will still be supported by solid core earnings outlook and favorable EV gross profit margin. Currently, Citi Research applied a PE ratio of approx. 15x to its smartphone, IoT and internet services business each, and a PB ratio of approx. 2x to the smart EV business. Citi Research rated XIAOMI-W at Buy, with a target price of $22.7, believing that its valuation level is reasonable. AAStocks Financial News |
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