Xiaomi stock price:$HKD26 target by Bank of America – Idaho Reporter

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Xiaomi stock price:$HKD26 target by Bank of America

Shares of Xiaomi (1810) have received a price target of $HKD26 by Bank of America Securities. These are the details

Bank of America Securities issued a research report stating that it maintains Xiaomi (01810) “Buy” rating with a target price of $HKD26.

The report believes that the sale of Huawei’s Honor mobile phone brand business will not pose a threat to Xiaomi in the long run. Different from Huawei’s mid-to-high-end strategy, Honor aims at the mid- and low-end markets. It is estimated that Honor accounts for about 30% to 35% of Huawei’s shipments. Without departing from the Huawei system, without scale, core R&D resources, and channel support, Honor will find it difficult to compete with Xiaomi , OPPO and VIVO and other local leading companies compete.

In addition, Qualcomm has obtained a license from the United States to sell 4G mobile phone chips to Huawei. The bank believes that in view of the shrinking 4G market in China, the penetration rate of 5G smartphones in October has reached 67%, which is believed to have limited impact on Xiaomi.

Xiaomi stock lost around 1% on Wednesday and it is priced at $HKD23.85 at the time of writing this article.

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