[ET Net News Agency, 27 May 2021] Goldman Sachs raised its target price for Xiaomi
(01810) to HK$33 from HK$30 and maintained its "buy" rating.
The research house said it maintains its revenue forecast largely unchanged, while
raising its non-IFRS net profit forecast by +15%/+8%/+4% in 2021E/2022E/2023E to reflect
higher gross margin in the smartphone business from premium smartphone sales, along with
revenue mix towards higher margin Internet services, offset by heavier R&D spending on its
EV initiatives. (RC)