[ET Net News Agency, 21 November 2023] Citi raised its target price for Xiaomi (01810)
to HKD19.6 from HKD17.1 and maintained its "buy" rating.
The research house said it raises 2023E EPS by 10% to factor in better GM, but cuts
2024/25E by 4%/17% to incorporate EV business. It now forecasts 58.7k/125.5k units of EV
shipment in 2024/25E, with revenue contribution of 4%/8%, respectively. (RC)