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| HSI1 | 22,671.86 | -405.05 | 342.10B |
| HSCEI1 | 7,460.84 | -147.54 | 100.47B |
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Nomura Lifts LENOVO GROUP (00992.HK) TP to HKD35, Reiterates Buy
2026-06-26 17:34:47 Nomura published a report maintaining a Buy rating on LENOVO GROUP (00992.HK). Based on 20x its forecast EPS for fiscal year 2027, the broker sharply raised its TP from the previous HKD16 to HKD35, implying 46% upside potential. In its previous report on Lenovo released in May, Nomura had already highlighted that momentum in the general server business could far exceed expectations. Although Lenovo癒礎s share price has risen by more than 100% since May (while the HSI fell 10% over the same period), Nomura believes the outperformance may continue as it considers that: (1) the market has yet to fully price in the potential of Lenovo癒礎s server business; (2) its earnings forecasts for fiscal years 2027/28 are now about 10% above market consensus; and (3) Lenovo is currently undergoing a re-rating process. Its key peer, Dell Technologies Inc. (DELL.US), is trading at 30x one-year forward P/E, which Nomura believes creates room for Lenovo癒礎s re-rating. The broker raised its earnings forecasts for Lenovo for fiscal years 2027/28 by 12%. (da/a)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese 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. | |