0734 GMT - Xiaomi may see promising growth in its smartphone, internet-of-things and electric-vehicle businesses, Daiwa analyst John Choi writes in a note. The company's recent share placement of 800 million shares will be used for business expansion, R&D investment in areas including EVs, autonomous driving and AI. Xiaomi is better positioned than its peers to weather the storm of the ongoing tariff war between China and U.S. due to its limited revenue exposure to the U.S. market, Daiwa says. The brokerage upgrades the stock rating to buy from outperform but cut target price to HK$60.00 from HK$65.00 to factor in changed earnings per share forecast for 2025-2026. Shares last at HK$37.45. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
April 07, 2025 03:34 ET (07:34 GMT)
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