[ET Net News Agency, 8 November 2017] UBS Global Research raised its target price for
Lenovo Group (00992) to HK$5 from HK$3, and upgraded its rating from "sell" to "neutral".
The research house said Lenovo's PC business has stabilized faster than it expected
while the market has no expectation of a turnaround in Lenovo's Mobile and Data Center
businesses.
UBS said Lenovo's strong 2Q FY2018 PC sales growth and the sequential pre-tax income
(PTI) margin improvement surprised the research house, and the management indicated the
strength could carry into 3Q FY2018.
UBS thinks Lenovo could replicate its previous success in integrating NEC through a JV
in its coming new JV with Fujitsu. The new JV would help Lenovo regain leadership of
global PC shipments market share which it lost to HP in 2Q CY2017. (KL)
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00992 LENOVO GROUP
Nominal 
9.030 +0.210 (+2.381%) Others
08/11/2017 18:01
[I-bank focus]UBS lifts Lenovo (00992) to "neutral" & HK$5
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