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<Research>JPM: LENOVO GROUP (00992.HK) Quarterly Results Beat, but Cost Pressure Rises; Rating Neutral
Recommend 6 Positive 13 Negative 8 |
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The main points of LENOVO GROUP (00992.HK)'s results meeting for 3FQ26 ended December 2025 include higher-than-expected 3FQ26 results, driven by strong profitability from the IDG, JPMorgan issued a research report saying. Although the ISG posted revenue above expectations, it still recorded a loss in 3FQ26. Despite the solid performance in 3FQ26, LENOVO GROUP's share price reacted negatively during the trading session after midday on the same day. JPMorgan believed that the market is focusing on the increasing downside risk to profitability amid a cost inflation environment. Although LENOVO GROUP is likely to outperform its peers due to its industry leadership, the broker believed that the stock price valuation will remain under pressure in the medium to short term. JPMorgan lowered its FY2027 earnings forecast by 5% while maintaining FY2028 earnings forecast unchanged. Therefore, the broker extended its target price to December 2026, and kept target price/ rating unchanged at $9.5/ Neutral. AASTOCKS Financial News Website: www.aastocks.com |
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