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<Research>M Stanley Downgrades LENOVO GROUP to Equalweight, Cuts TP to HKD10.2
Recommend 17 Positive 20 Negative 19 |
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Morgan Stanley wrote in its research report that LENOVO GROUP (00992.HK) has potential for revenue and profit growth for 2FQ ending September, predicting the market to raise its expectations following the company's results announcement on November 20. Given that rising memory input costs have led to a decline in profit margins and pressure on valuation multiples, however, Morgan Stanley decided to downgrade LENOVO GROUP's rating from Overweight to Equalweight and cut its target price from HKD13 to HKD10.2. AAStocks Financial News |
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