0302 GMT - Xiaomi's 4Q earnings are likely to be strong and beat market expectations, thanks to potential surprises from core business revenue growth, Citi analysts write in a note. The company's favorable smartphone mix and China subsidies could boost its topline growth, they say. The electric-vehicle sector is expected to stay on track with around a 20% gross margin and solid order backlog. Citi estimates that the adjusted net income for 4Q will be around CNY6.8 billion, beating consensus by 19%. Given the Chinese government's subsidy, the company could see robust growth in Internet-of-Things and high-end smartphone sales in 4Q, they add. Citi maintains its buy rating for the stock and raises the target price to HK$51.70 from HK$41.00. Shares last at HK$44.60. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
February 16, 2025 22:02 ET (03:02 GMT)
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