New Buy Rating for Xiaomi (XIACF), the Technology Giant
In a report released yesterday, Ray KWOK CFA from CGS-CIMB maintained a Buy rating on Xiaomi, with a price target of HK$53.50. The company’s shares closed yesterday at HK$37.70.
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According to TipRanks, KWOK CFA is a 4-star analyst with an average return of 38.5% and a 50.00% success rate.
In addition to CGS-CIMB, Xiaomi also received a Buy from Bank of America Securities’s Robert Cheng in a report issued on November 19. However, on the same day, J.P. Morgan maintained a Hold rating on Xiaomi (Other OTC: XIACF).
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
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