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<Research>G Sachs Adds LENOVO GROUP, GIGADEVICE to APAC Conviction List, Removes Renesas Electronics
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Goldman Sachs released a research report adding LENOVO GROUP (00992.HK) and GIGADEVICE(603986.SH) to its APAC Conviction list, while removing Renesas Electronics.

Goldman Sachs expected the Windows 11 cycle, along with the growing popularity of AI PCs, to drive a re-acceleration in LENOVO GROUP's revenue growth, as well as gross profit margin expansion.

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Goldman Sachs also estimated LENOVO GROUP's 1HFY2024/ 2HFY2024/ FY2025 earnings to grow 81%/ 60%/ 54%.

Goldman Sachs' target prices for stocks in its APAC Conviction list are shown below:

Stock | TP (HKD)

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ANTA SPORTS (02020.HK) | 116
CHINA RES BEER (00291.HK) | 45
AIA (01299.HK) | 92
HKEX (00388.HK) | 345
TENCENT (00700.HK) | 477
LENOVO GROUP (00992.HK) | 13.98
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