[ET Net News Agency, 8 November 2019] HSBC Global Research lowered its target price for
Lenovo Group (00992) to HK$7.1 from HK$7.8 to reflect the potentially weaker sentiment and
maintained its "buy" rating.
The research house said Lenovo's FY2Q 2020 EPS came in at US1.70 cents, versus HSBC's
estimate of US1.46 cents. Revenue was in line with expectations, helped by record-high PC
shipments in the quarter. Gross margin beat, thanks to better product mix in its PC
business.
HSBC remains positive on Lenovo for its steadily growing PC business, but it expects
weaker-than-seasonal FY3Q 2020 (4Q 2019) PC segment as Intel CPU shortage could likely
bring negative impact during high season.
In addition, HSBC thinks the company's datacentre business turnaround will take longer
due to decelerating market growth. We thus lower our target TP to reflect the potentially
weaker sentiment. (KL)
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00992 LENOVO GROUP
Nominal 
8.200 -0.060 (-0.726%) Research Report
08/11/2019 17:35
{I-bank focus}HSBC lowers Lenovo Group (00992) to HK$7.1
| Remark: | Real time quote last updated: 18/04/2024 17:27 |
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