BofA Raises Xiaomi Target Price to HK$69: EV Business Drives New Growth, Financial Strength Highlights Investment Value

Bank of America Securities released a latest research report on July 8, 2025, reaffirming "Buy" rating for Xiaomi and raising target price from HK$66 to HK$69. The report shows Xiaomi's EV business achieves industry-leading 23% gross margin, with working capital of $11.9 billion ranking first among peers. Net profit forecasts for 2025-2027 raised by 7-16%. In-depth analysis of Xiaomi's unique advantages in the EV market and how Sum-of-the-Parts valuation reveals business structure and growth drivers.