0228 GMT - China's national subsidy program may boost Xiaomi's smartphone shipment volumes and average selling price, HSBC Global Research analysts write in a note. The Chinese company has seen strong sales momentum in smartphones after the national subsidy program was implemented in January, they note. The program will work as a tailwind for China's Android brands with their retail prices ranging mostly below the subsidy price cap, they say. HSBC raises its non-GAAP net profit forecast for Xiaomi by 2% for 2024, 6% each for 2025 and 2026 given its positive views on its smartphone business. The brokerage maintains a buy rating on the stock and raises the target price to HK$49.90 from HK$37.90. Shares last at HK$42.50. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
February 06, 2025 21:28 ET (02:28 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。