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Research Report

05/02/2021 17:42

Guotai Junan lifts Lenovo (00992) to HK$11; "accumulate"

[ET Net News Agency, 5 February 2021] Guotai Junan International lifted its target
price for Lenovo Group (00992) to HK$11 from HK$9.4 and maintained its "accumulate"
The research house said Lenovo's 3Q FY2021 results were higher than expectations. It
expects PC business to remain strong. Guotai Junan expects work-from-home, online
education and online entertainment demand to still promote PC business in 4Q.
Guotai Junan also expects PC shipments to be affected by components shortage in 4Q, and
the backlog will carry into FY2022; however, Lenovo's unique hybrid manufacturing strategy
partially offsets the impact from the component shortage.
Guotai Junan revised up FY2021-23 EPS forecasts by 26%/18%/12.5%, respectively. (KL)

Remark: Real time quote last updated: 29/09/2021 10:48
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