CICC: Reiterates "Buy" rating on Xiaomi Corporation-W, target price raised to HKD 25.75

CICC International released a research report stating that it reiterates a "buy" rating on Xiaomi Corporation-W, which will announce its performance in mid-this month. The adjusted net profit forecast for the second quarter has been raised from 4.5 billion RMB to 5.2 billion RMB. It believes that the market generally underestimates the group's profit potential in the next few years. The target price has been slightly increased from HKD 25.72 to HKD 25.75, making it the top pick in the industry

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