Lenovo Group Jumps Over 6% in Morning Trade as BofA Securities Reiterates Buy Rating

Deep News12:00

Hot picks data center market center capital flow simulated trading client Lenovo Group (00992) surged more than 6% in early trading. As of press time, the stock was up 6.16%, quoted at HK$23.08, with a turnover of HK$1.135 billion.

Lenovo Group is scheduled to announce its second-quarter results for the 2027 fiscal year on November 19. According to Morgan Stanley's forecast, the company's total revenue for the quarter is expected to reach US$28.6 billion, representing a year-on-year increase of 40% and a quarter-on-quarter increase of 6%; adjusted net profit is projected to reach US$1.281 billion, surging 150% year-on-year and up 19% quarter-on-quarter, exceeding the market consensus by 12%.

BofA Securities released a report predicting that Lenovo Group's second-quarter results for the 2027 fiscal year will be strong, with the Infrastructure Solutions Business Group (ISG) revenue and profit margin potentially exceeding expectations. The firm is bullish on Lenovo's competitive advantages in the CPU server market and the long-term growth potential of its AI server business, and has raised its adjusted net profit forecasts for fiscal years 2027 to 2029 by 3% to 9%, while maintaining a "Buy" rating and a target price of HK$46.

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