Yamato: Raised Xiaomi Corporation-W (01810.HK) target price to HK$65, reiterates "Buy" rating.

According to the app of Securities Times, Daiwa Securities released a research report stating that it believes Xiaomi Group-W (01810.HK) will continue to maintain a stable operating momentum in multiple business areas in the first quarter, thus raising its revenue and profit forecasts for the first quarter. It is estimated that the group's first quarter revenue will reach 109 billion Hong Kong dollars, and the adjusted net profit will be approximately 10 billion Hong Kong dollars. The bank continued to point out that the group benefits from a strong position in the smartphone market, the accelerated growth of the Internet of Things, and the execution capability of the electric vehicle business, maintaining an optimistic outlook on its prospects. The bank raised Xiaomi's earnings per share forecast for 2025 to 2027 by 2.3% to 21.5% to reflect a more optimistic outlook for the group's smartphone and IoT revenue forecasts, and reiterated its "buy" rating, raising the target price from 60 Hong Kong dollars to 65 Hong Kong dollars.