CITIC Securities Raises Lenovo Group (00992) Price Target by About 2% to HK$49.5, Maintains Outperform Rating

Stock News11:12

According to a research report from CITIC Securities, the price target for Lenovo Group (00992) has been raised by 1.6% from HK$48.7 to HK$49.5, with the Outperform rating maintained and the stock continuing to be listed as a top pick.

The bank has updated its adjusted net profit forecast for Lenovo Group's fiscal 2027 second quarter, ending March 2027, to US$1.18 billion, which is 13% above market expectations, mainly driven by better-than-expected revenue and profit margins in the server business.

The bank expects that Lenovo Group's server business revenue will grow by 150% year-on-year in the fiscal 2027 second quarter. Despite a decline in personal computer (PC) shipments, revenue from the Intelligent Devices Group (IDG) is still expected to grow by 11% year-on-year.

The bank noted that neocloud server orders are strong, and there is no need to worry about payment conditions.

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