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<Research>M Stanley: LENOVO Last FQ NP Beats M Stanley/ Mkt Estimates by 13%/ 47%
Recommend 6 Positive 11 Negative 7 |
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LENOVO GROUP (00992.HK)'s net profit for the fiscal quarter ended March 2024 beat the expectations by Morgan Stanley and the market by 13% and 47%, respectively, while revenue beat Morgan Stanley's upwardly revised forecast by 1% and the market's estimate by 5%, according to a report by Morgan Stanley. Operating profit was 26% and 31% ahead of the broker and the market's projections respectively, due to better cost control. LENOVO GROUP is the top pick for Morgan Stanley, which looks forward to comments on AI PC outlook, AI server order pipeline, and comments on ISG revenue strength and breakeven timing. Morgan Stanley rated LENOVO GROUP at Overweight with TP of $15. AAStocks Financial News |
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