CICC is optimistic about Xiaomi's high-end smartphone strategy

CICC said it is optimistic about the strong performance of Xiaomi's smartphone shipments in the past three quarters and the profitability of the high-end smartphone sector in 2021, and maintains the rating of increasing its holdings of Xiaomi. Maintaining an increase in Xiaomi's holdings rating and a target price of HK$34, Xiaomi estimates a price-earnings ratio of 38.9 times this year and an estimated price-earnings ratio of 30.7 times in 2022.
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