Xiaomi stock target raised at Goldman on EV success [Yahoo! Finance]
Goldman Sachs Group, Inc. (The) (GS)
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Source: Yahoo! Finance
According to the bank, Xiaomi is achieving early success with its "Human x Car x Home" strategy, both in China and globally. Goldman reiterated its Buy rating on the stock due to Xiaomi's promising performance in the EV market, including the ramp-up of its SU7 EV deliveries and upcoming new product releases. The bank raised its estimates for SU7 deliveries in 2025 and beyond to over 225,000 units annually, following strong order momentum and increased manufacturing capacity at the company's Phase I factory. Xiaomi management is targeting 20,000 deliveries in October alone. Additionally, the bank introduced estimates for Xiaomi's upcoming SU7 Ultra model, which will debut at the Nürburgring in October, with projected sales of 4,000 units at an average selling price of RMB 800,000 in 2025, contributing 5% of the company's EV revenue. They explained that Xiaomi's second EV model is also expected to hit the market earlier than anticipated, with sales volumes projected at 40,000 u
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