Barclays analyst Jiong Shao lowered the firm’s price target on Xiaomi (XIACY) to $40 from $43 and keeps an Overweight rating on the shares ahead of the Q3 report. The company’s internet of things year-over-year growth is set to slow due to government trade-in subsidies lapping while higher DRAM prices reduce smartphone margins, the analyst tells investors in a research note.
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