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<Research>DBS Group Research Raises XIAOMI-W (01810.HK) TP to $34; Premiumization In Full Force
Recommend 15 Positive 43 Negative 11 |
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DBS Group Research raised its target price on XIAOMI-W (01810.HK) from $31 to $34 and maintained a Buy rating. The report said Xiaomi's market share expanded exponentially in Southeast Asia and Africa, up 0.6 and 1.1 ppts respectively in 3Q24. The trend is expected to continue in 2024 and 2025, with Xiaomi outstripping its Android handset peers. The broker said the company's diversified geographic revenue base helps mitigate the impact of soft demand for smartphones in China. The broker added that Xiaomi's expansion into the high-end handset market, driven by its successful “Fold”, “Mix” and “Ultra” series, will boost average handset prices, which are expected to rise by 6% and 4% each in 2024 and 2025, as well as strengthen gross margins. AAStocks Financial News |
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