CICC International: Raises target price of Xiaomi Corporation-W (01810.HK) to HKD 62, maintains "buy" rating.

According to the Wisdom Financial APP, CICC International released a research report stating that Xiaomi Group - W (01810.HK) first quarter results exceeded expectations, AIoT business continued to grow strongly, and car gross margin increased. Based on a 26 times PE ratio for the 2026 mobile phone x AIoT business and a 2 times market sales ratio for the car business, combined with exchange rate factors, Xiaomi's target price was raised to HKD 62, maintaining a "buy" rating.