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LENOVO GROUP Jumps Up 10% Against Market to Hit Record High; Brokers Raise Earnings Forecasts; G Sachs Lifts TP to HKD27
Recommend 13 Positive 24 Negative 12 |
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Hong Kong bourse resumed trading after the holiday. The HSI opened slightly higher by 16 points this morning (26th) before turning south in early trading. It last stood at 25,436, down 169 points or more than 0.6%, with turnover of HKD67.078 billion. LENOVO GROUP (00992.HK) opened up 1.1%. With wilder upswing, it hit a record high of HKD17.66. It last traded at HKD17.38, up 10.35% against the broader market, with turnover of HKD1.973 billion. JP Morgan said in a report that Lenovo's profit for the fiscal quarter ended March was solid, with ISG showing a strong turnaround and resilient margins in IDG. The broker sharply raised its earnings forecasts for the current and next fiscal years by 48% and 37%, respectively, reflecting improved ISG margins and better-than-expected PC margins. It maintained a Neutral rating and lifted its TP from HKD9.5 to HKD16.8. Goldman Sachs stated that AI will continue to drive Lenovo's future growth, while the impact of rising memory costs remains manageable. It raised its non-HKFRS earnings forecasts for FY2027-29 by 5%, 6% and 5%, respectively, and sharply increased its TP from HKD12.53 to HKD27, reiterating a Buy rating. Citi also lifted its earnings forecasts for the current and next fiscal years by 53% and 47%, respectively, citing solid demand for the ISG. It raised its TP from HKD12.6 to HKD20 and maintained a Buy rating. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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