BOCOM International Holdings Company Sticks to Its Buy Rating for Xiaomi (XIACF)

BOCOM International Holdings Company analyst maintained a Buy rating on Xiaomi yesterday and set a price target of HK$50.00. The company’s shares closed yesterday at HK$37.70.

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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Xiaomi with a $7.52 average price target, a -80.05% downside from current levels. In a report released yesterday, CGS-CIMB also maintained a Buy rating on the stock with a HK$53.50 price target.

Based on Xiaomi’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of HK$115.96 billion and a net profit of HK$11.9 billion. In comparison, last year the company earned a revenue of HK$88.89 billion and had a net profit of HK$5.1 billion