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00992 LENOVO GROUP
RTNominal unchange8.200 0.000 (0.000%)
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24/08/2018 17:13

[I-bank focus]HSBC raises Lenovo Group (00992) to HK$4.8

[ET Net News Agency, 24 August 2018] HSBC Global Research raised its target price for
Lenovo Group (00992) to HK$4.8 from HK$4.4, and maintained its "hold" rating.
The research house believes Lenovo's current strategy for Mobile Business Group (MBG) is
to focus on profitability improvement through an aggressive expense reduction by
consolidating operations in the non-profitable markets.
However, the concern is how far this will bring the business back into profit, as
operating leverage is unlikely to occur on the back of stagnant revenue base.
HSBC lifted its FY2019-20 EPS forecasts by 6.3-7.9% to US3.85 cents and US5.14 cents,
respectively, mainly to factor in better FY1Q 2019 results and improved margin
assumptions. (KL)

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