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<Research> CICC Raises LENOVO GROUP (00992.HK) TP to HKD20; ISG Business Turnaround Drives Re-rating
Recommend 10 Positive 16 Negative 6 |
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CICC issued a report noting that LENOVO GROUP (00992.HK) announced results for 4QFY2026 ended March. Benefiting from a surge in PC revenue, revenue rose 27% YoY to USD21.59 billion, while net profit attributable to shareholders soared 479% YoY to USD521 million. Non-HKFRS net profit increased 101% YoY to USD559 million, beating the brokers and market expectations. Given the rapid growth in backlog orders for LENOVO GROUP (00992.HK)s AI servers and the significant improvement in profitability, CICC raised its non-HKFRS net profit forecasts for FY2027 and FY2028 by 34.5% and 42.8% to USD2.67 billion and USD3.31 billion, respectively. Considering that the ISG business turnaround is driving a valuation re-rating, the broker lifted its TP by 35% to HKD20 and maintained an Outperform rating. (ad/da) 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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