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<Research>BOCI Trims XIAOMI-W TP to $56.21; Concerns Over Smartphone/ IoT Prospects Priced in
Recommend 17 Positive 24 Negative 9 |
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The smartphone industry faces challenges in 2026, featured by a super memory cycle which further shored up DRAM/ NAND prices drastically in November/ December, BOCI's research report wrote. The long-term uncertainty in EV production further exacerbated negative sentiment towards XIAOMI-W (01810.HK). As long as Xiaomi's new products (whether EVs, smartphones, or IoT products) can replicate past success in the mass market, the stock is expected to regain its glory, BOCI opined. The broker fine tuned its forecasts to reflect BOM cost pressures in smartphones, uncertainty in EV production capacity, and purchase tax subsidy costs. It reaffirmed a Buy rating on the stock, with the target price lowered from HK$69.04 to HK$56.21. BOCI trimmed Xiaomi's adjusted EPS forecasts for 2025-27 by 2%/ 14%/ 15%, to RMB1.65/ RMB1.772/ RMB2.39. AASTOCKS Financial News Website: www.aastocks.com |
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