[ET Net News Agency, 25 May 2022] UBS lowered its target price for Lenovo Group (00992)
to HK$8 from HK$12 and downgraded its rating to "neutral" from "buy".
The research house said it forecasts Lenovo Group's sales to grow 3% YoY in FY23 but
decline 4% YoY in FY24, better than the PC industry due to its high corporate PC mix (55%
of its PC shipments). However, it does not think it will be immune, as it expects the
corporate NB sector to enter a downcycle in 2023. (RC)