Brokerages Cut Targets For Xiaomi, Nio, Li Ning And Others

Brokerages adjusted ratings and target prices for a range of Hong Kong-listed stocks, including Xiaomi (01810), Nio (09866), Li Ning (02331), Meituan (03690), BYD (01211) and WuXi AppTec (02359), according to ETNet. Among the latest changes, Jefferies raised Xiaomi's target price to 25.54 from 25.49 and upgraded the stock to Hold from Underperform. Goldman Sachs cut Ganfeng Lithium's target to 46.00 from 60.00 and downgraded it to Neutral from Sell. Citi kept Xiaomi at Buy with a target of 34.00, while UBS and HSBC maintained Buy ratings on Cathay Pacific (00293) with targets of 19.40 and 16.50, respectively. Goldman Sachs also trimmed targets for China Shenhua (01088) and Chalco (02600), while Barclays slightly lowered BYD's target to 172.52 from 172.54 and kept an Overweight rating. For Nio, CICC kept an Outperform rating but cut its target to 48.00 from 61.50, while DBS lowered its target to 40.00 from 60.00 and maintained Buy. Earlier calls also showed Deutsche Bank cutting Nio's target to 65.70 from 86.00 and Morgan Stanley keeping an Overweight rating at 58.00. JPMorgan cut Li Ning's target to 12.00 from 23.00 and downgraded it to Neutral from Overweight.