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00992 LENOVO GROUP
RTNominal down11.620 -0.200 (-1.692%)
Others

18/01/2013 10:31

[I-bank focus]Barclays lifts Lenovo (00992) target to HK$9

[ET Net News Agency, 18 January 2013] Barclays Research raised its target price for
Lenovo (00992) to HK$9 from HK$8, and maintained its "overweight" rating.
On the back of Lenovo's strong PC and smartphone market-share gain momentum, the
research house raised its FY2014 and FY2015 EPS each by 4%, mostly on better margins. It
expects smartphones to break even in FY2014 and turn profitable in FY2015.
Barclays expects another solid quarter when Lenovo reports 3Q FY2013 (4Q CY2012) results
on 28 January. It looks for sales of US$9.21bn (+10% y/y), GP margin of 12%, OP margin of
2.45%, net profit of US$171mn and EPS of US$1.66 cents (+9.3% y/y). (KL)

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