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01810 XIAOMI-W
RTNominal up19.840 +0.040 (+0.202%)
Others

29/10/2020 15:23

{I-bank focus}BOCOM lifts Xiaomi (01810) to HK$25; "buy"

[ET Net News Agency, 29 October 2020] BOCOM International Research raised its target
price for Xiaomi Corporation (01810) to HK$25 from HK$23 and maintained its "buy" rating.
The research house expects Xiaomi's 3Q smartphone shipment to jump 29% with flattish
ASP, China market share gains, and strong overseas growth with Europe being a key shipment
driver. BOCOM expects advertising to continue to recover along with the industry trend,
while gaming may return to relatively normal growth (27% in 3Q) after surging during the
pandemic in 1H.
It expects more high-end product launch in 4Q to lead to a healthy return in ASP growth,
after a brief pause in 3Q due to product launch schedule. (KL)

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