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Macquarie Cuts LENOVO GROUP (00992.HK) Target to $7.5; Kept Outperform
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2017/02/17 10:34
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SHOW:  STOCK INFO  SHORT SELL  

Macquarie, in its report, said LENOVO GROUP (00992.HK)  +0.090 (+1.935%)    Short selling $91.64M; Ratio 17.925%   results missed estimates, but the broker still remained positive on the company’s outlook. Macquarie believed PC segment will continue to support the group's mobile and enterprise segments to transform. The broker kept the rating Outperform, but lowered the earning forecasts for FY17/FY18/FY19 by 38%/27%/28%, with target price cut from $8 to $7.5.

3QFY17 (or 4Q16) PC shipment rose 8% quarterly to 15.7 million units, leading to record high market share of 22.4%. PC accounts for 70% of Lenovo’s revenues and this sustainable cash cow should be able to bring steady cash flow for the group.
(Quote is delayed for at least 15 mins.Short Selling Data as at 2017-02-24 16:25.)



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