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CMS maintains BUY on Xiaomi stock, but price target stays the same – Idaho Reporter

Xiaomi (OTC: XIACF; HKEX: 01810) stock dropped again on Tuesday (-0.34%) after it started a day in green. China Merchant Securities analyst, however, still believes in Xiaomi and they issued a “buy” on Xiaomi with a price target of HK$32.00 per share. Here is why CMS is still positive on Xiaomi stock. CMS analyst thinks that the fact Xiaomi filed legal proceedings for DoD blacklist removal is a positive starting step towards a solution. Xiaomi announced Jan. 31 that it has filed legal proceedings against the US Department of Defense (DoD) and Department of Treasury (DoT). The company views the US DoD designation of Xiaomi as a Communist Chinese Military Company to be factually incorrect and without legal due process. Xiaomi therefore is taking legal actions remove its designation, thus to prevent irreparable harm to the company and shareholders.

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