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<Research>Macquarie Removes XIAOMI-W as Asia Marquee Buy Idea, Cuts TP to HKD61
Recommend 22 Positive 44 Negative 30 |
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Macquarie, in its report, lowered the target price for XIAOMI-W (01810.HK) from HKD69.32 to HKD61, maintaining an Outperform rating. However, the stock was removed as the broker's Asia Marquee Buy idea. The company was predicted to see lower profit in 2H25 compared to 1H25, with the gross margin in 3Q25 anticipated to be under pressure due to intensified competition in the smartphone market, soaring costs, and seasonal slowdown in IoT products. Macquarie anticipated that the growth in Xiaomi's smartphone and EV sales will be offset by the seasonal weakness in IoT, with quarterly revenue expected to remain flat. The broker trimmed its forecast for Xiaomi's EV sales by 24,000 units, reflecting slower-than-expected production at new plants. AASTOCKS Financial News Website: www.aastocks.com |
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