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00992 LENOVO GROUP
RTNominal down8.410 -0.130 (-1.522%)
Research Report

05/02/2021 10:03

CCBIS lifts Lenovo Group (00992) to HK$11.8; "outperform"

[ET Net News Agency, 5 February 2021] CCB International Securities (CCBIS) lifted its
target price for Lenovo Group (00992) to HK$11.8 from HK$10.5 and maintained its
"outperform" rating.
The research house remains positive on Lenovo's PC performance in 2021-22 despite the
short-term impact of the global electronic component shortage. CCBIS believes it will be
underpinned by robust demand from extended work-from-home and e-learning, alongside a
recovery in commercial activities.
Lenovo announced a new organizational structure and formed a new Solution & Services
Group (SSG) to accelerate the company's service-led transformation. CCBIS believes this
change will provide investors with a clearer picture of the company's robust expansion in
its software and service business, which contributed 8.1% of group revenue in 3Q FY2021.
CCBIS raised its FY2021-23 earnings estimates by 9-23% to reflect stronger PC and service
sales forecasts. (KL)

Remark: Real time quote last updated: 29/09/2021 09:34
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