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<Research>M Stanley Cautious on LENOVO GROUP (00992.HK) Cost Inflation; Rating Equalweight
Recommend 16 Positive 18 Negative 16 |
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Morgan Stanley said that LENOVO GROUP (00992.HK)'s net profit for 4QFY26 ended March topped street consensus but missed the broker's forecast by 15%. Although market forecasts may be revised upward, LENOVO GROUP's share price swelled 20% on the results announcement day (22nd), suggesting that positive factors have largely been priced in. The broker therefore maintained its Equalweight rating. However, the broker remains cautious about pressure on volume and margin headwinds from cost inflation. It maintained a TP of HKD14.2, equivalent to around 10x 2027E PE. The broker lowered its FY2026 EPS forecast by 5%, while forecasts for FY2027-28 were largely unchanged. 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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