0954 GMT - Xiaomi remains a top tech pick in China thanks to its strong growth supported by a distinctive ecosystem, a minimal tariff impact on its business, and the absence of an ADR delisting risk, Jefferies analysts write in a note. The company's smartphone market share keeps growing and has the potential to expand further, they say. Its stock price was under pressure due to slowing SU7 order growth and escalating U.S.-China tensions, they add. But investor feedback has been largely positive so far, with most of the pushback related to high market expectations and a possible delayed launch of its SUV model, they add. Jefferies maintains a buy rating on the stock with a target price of HK$63.25. Shares last closed at HK$51.35. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
May 09, 2025 05:54 ET (09:54 GMT)
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