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Morgan Stanley, Upward Adjustment to Xiaomi EV’s Target Price

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Morgan Stanley, a U.S. investment bank, has announced an upward adjustment to the target price of Xiaomi, citing optimistic electric vehicle sales. While they believe in Xiaomi’s potential power, they further commented that Xiaomi needs to offer more to attract investors.

Xiaomi officially launched the SU7 model on March 28, and in just one day, they reportedly received 88,898 orders. The limited Founders Edition began shipping on April 3, and Lei Jun, Xiaomi’s CEO, announced that they have received over 100k confirmed orders and 40k fixed orders.

Morgan Stanley believes this popularity portrays that end-users are satisfied with Xiaomi’s vehicle design and the ‘Smartphone+Electric Vehicle+AIoT’ concept.

Morgan Stanley argued that production, delivery, and service will be critical factors in the short term, and continued innovation in ADAS and Smart Cockpit features will drive long-term value.

Morgan Stanley estimated the inherent value of Xiaomi EV to be $13.8 billion and projected that the average selling price will reach $38,800 by 2024-2025. They also predicted that the likely probability of Xiaomi EV’s bull market occurrence could create an even higher value of $17.1 billion.

Morgan Stanley suggested a 25% upside potential by raising the target price for Xiaomi’s Hong Kong-listed stocks from $2.23 to $2.55.

Morgan Stanley stated, “The excellent specifications and price of the SU7 model could be an attractive alternative for young couples/families looking for a medium to large sedan. Therefore, it could deliver pressure on both the entry-level models of luxury brands and the C-segment sedans of mass-market brands.”

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