Xiaomi (XIACF): New Buy Recommendation for This Technology Giant
Morgan Stanley analyst Andy Meng maintained a Buy rating on Xiaomi on December 5 and set a price target of HK$62.00. The company’s shares closed yesterday at HK$42.78.
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According to TipRanks, Meng is a 4-star analyst with an average return of 37.2% and a 50.00% success rate.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Xiaomi with a $7.12 average price target, which is a -83.36% downside from current levels. In a report released on December 1, Piper Sandler also maintained a Buy rating on the stock with a HK$49.00 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
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