UBS: Reducing Xiaomi Group-W (01810.HK) target price to HK$60, maintaining a "neutral" rating.

According to the China Fortune Financial app, UBS released a research report stating that it expects Xiaomi Group-W (01810.HK) AIoT business to maintain rapid growth in the next quarter, with AIoT sales expected to be 36.6 billion and 140.6 billion RMB in the next quarter and for the whole year, respectively, an increase of 37% and 35% year-on-year. The bank has lowered its profit forecast for the group in the next quarter and for the whole year by 10.4% and 5.5%, respectively, and has reduced its target price from 62 Hong Kong dollars to 60 Hong Kong dollars, maintaining a "neutral" rating.