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00992 LENOVO GROUP
RTNominal up8.820 +0.170 (+1.965%)
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02/02/2018 18:01

[I-bank focus]CLSA upgrades Lenovo (00992) to HK$4.82

[ET Net News Agency, 2 February 2018] CLSA lifted its target price for Lenovo Group
(00992) to HK$4.82 from HK$4.44, and upgraded its rating to "outperform" from "sell".
The research house noted two notable events of December 2017. Firstly, focus of mobile
on the Moto brand and US, LatAm leads to large volume decline but lower losses. This is
the best of bad choices which should bring Lenovo Mobile into a situation similar to LGE,
smaller loss but elusive break-even.
CLSA slashed mobile units but forecast lower losses.
Secondly, enterprise/data centre: finally revenue growth and lower losses, the research
house maintained its forecast of breakeven in FY2020. Smaller mobile losses lead it to
revise up its FY2019 net income by +22% and FY2020 by +17%. (KL)

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