[ET Net News Agency, 17 August 2018] CLSA raised its target price for Lenovo Group
(00992) to HK$6.68 from HK$4.45, and upgraded its rating to "buy" from "outperform" noting
that the path to recovery is becoming visible.
The research house said Mobile strategy focused on Moto Brand and North-South Americas
leads to smaller losses. Revenue of US$11.9bn (up 19% YoY and 12% QoQ) was above consensus
by 6%. Gross profit of US$1.6bn (up 20% YoY and 6% QoQ) was in-line. Operating profit of
US$182m (up 450% YoY and 42% QoQ) was above consensus by 30%, and above CLSA's estimate by
53%.
Net income to shareholders GAAP of US$77m (up 207% YoY and 136% QoQ) was above consensus
by 39%, and above CLSA by 141%, it added.
CLSA said it now sees a path to US$550m GAAP net income in FY2019 and US$750m in FY2020.
(KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00992 LENOVO GROUP
Nominal 
10.640 -0.780 (-6.830%) Others
17/08/2018 09:07
[I-bank focus]CLSA upgrades Lenovo (00992) to HK$6.68
| Remark: | Real time quote last updated: 07/06/2024 17:59 |
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