[ET Net News Agency, 23 May 2022] Nomura lowered its target price for Lenovo Group
(00992) to HK$7 from HK$10 and downgraded its rating to "reduce" from "neutral".
The research house said it cuts Lenovo Group to "reduce" owing to (1) PC demand slowdown
started in March (Russia-Ukraine war accelerating order cuts); (2) its competitor, LG's SP
shipments were already very low in 4Q21, thus further market share gain is less likely for
Lenovo Group; and (3) based on its assumptions, the stock may become less attractive in
2H22F. (RC)