In a report released yesterday, from Huatai Securities maintained a Buy rating on Xiaomi (XIACF – Research Report), with a price target of HK$71.20. The company’s shares closed yesterday at $7.70.

Currently, the analyst consensus on Xiaomi is a Strong Buy with an average price target of $8.78, a 14.03% upside from current levels. In a report released yesterday, Bernstein also maintained a Buy rating on the stock with a HK$60.00 price target.

Based on Xiaomi’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $111.29 billion and a net profit of $10.92 billion. In comparison, last year the company earned a revenue of $75.51 billion and had a net profit of $4.18 billion