<p>Jefferies lowered Xiaomi's target price from HKD 43.36 to HKD 30.45, with the new target price below the latest closing price, stating that the surge in memory costs will pressure its smartphone shipments and profit margins in 2026, while the electric vehicle and AIoT (Artificial Intelligence of Things) businesses are also weakening. It believes that Xiaomi's performance in the fourth quarter of 2025 may fall short of expectations, across all three major business segments</p>

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<p>Jefferies lowered Xiaomi's target price from HKD 43.36 to HKD 30.45, citing that soaring memory costs will impact its smartphone shipments and profit margins in 2026, while the electric vehicle and AIoT businesses are also showing signs of weakness. It is expected that Xiaomi's performance in the fourth quarter of 2025 may fall short of expectations, with all three major business segments being affected</p>

Jefferies lowers Xiaomi's target price