$XIAOMI-W (01810.HK)$ Today, the stock price of Xiaomi opened high and continued to rise. As of the time of writing, Xiaomi's stock price rose nearly 4% to 27 Hong Kong dollars. On the news front, Xiaomi held a new product launch event on October 29, unveiling the new flagship 'Xiaomi 15' series. The Xiaomi 15 series phones were officially launched for sale on October 31 at 10 a.m., starting at a price of 4499 yuan.

Goldman Sachs released a report, maintaining a 'buy' rating for Xiaomi, raising the target price from 27.8 Hong Kong dollars to 30.7 Hong Kong dollars. The report pointed out that the flagship 'Xiaomi 15' series roughly meets the bank's expectations in terms of hardware specifications and pricing. The prices of Xiaomi 15 and 15 Pro start at 4499 yuan and 5299 yuan respectively, which are 200 and 300 yuan higher than the previous models. The upgrades in main specifications such as system-level chips (SoC), screen technology, fingerprint recognition, and battery have all enhanced competitiveness compared to similar models in the market.

Citigroup also raised Xiaomi's target price from 22.7 Hong Kong dollars to 30.6 Hong Kong dollars, reiterating a 'buy' rating. The bank raised Xiaomi Group-W's adjusted earnings forecasts for 2025 and 2026 by 11% and 16% to 1.06 yuan and 1.2 yuan respectively, reflecting improvements in smart phones and electric vehicle business. They also raised the delivery forecasts for electric vehicles from 2024 to 2026 to 0.122 million, 0.25 million, and 0.4 million, as well as the auto gross margin forecasts to 18%, 19.8%, and 19.8%.

The report stated that Xiaomi introduced its latest flagship phone, Mi 15, which supports stronger artificial intelligence capabilities. Its performance/specifications are comparable to the iPhone 16 Pro+, demonstrating that its elevation to the high-end market may expand the company's market share in the 4000 to 6000 yuan smartphone segment.

In addition, Citigroup also mentioned that the newly launched electric vehicle SU7 Ultra is impressive, along with Xiaomi's achievements at the Nürburgring track in Germany, enhancing Xiaomi's position in the high-end electric vehicle market. This not only strengthens its brand image but may also boost the shipment volume of SU7 Max.

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