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<Research>Macquarie Trims LENOVO GROUP's TP to HKD12.26 w/ Earnings Forecasts Adjusted
Recommend 5 Positive 10 Negative 6 |
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According to a report from Macquarie, LENOVO GROUP (00992.HK) delivered better-than-expected results for 2FQ ending September, with revenue growing by 15% YoY, beating the broker's and the market's forecasts by 4% and 2%, respectively. LENOVO GROUP managed to cut the operating expense ratio by 65 bps YoY with prudent cost control. Its non-HKFRS net profit increased by 25% YoY to USD512 million, 14% and 12% higher than the broker's and the market's expectations, respectively. Because of increased IDG and ISG revenue but reduced operating profit margin, Macquarie has adjusted its FY26-28 non-HKFRS net profit forecasts for LENOVO GROUP by +1.2%/ -5.9%/ -7.4%ely. Macquarie has trimmed its target price for LENOVO GROUP by 6% from HKD13.1 to HKD12.26, with an Outperform rating remaining in place. AAStocks Financial News |
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