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00992 LENOVO GROUP
RTNominal down9.380 -0.060 (-0.636%)
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17/07/2019 15:45

[I-bank focus]Lenovo's (00992) FY1Q 2020 net seen US$157m

[ET Net News Agency, 17 July 2019] Goldman Sachs expects Lenovo Group's (00992) FY1Q
2020 (CY2Q 2019) net income to be stronger than expected due to strong PC shipments as
well as upside in ASP on growing sales of high-end models.
The research house expects that Datacenter revenues should meet company guidance of
US$1.2-1.4bn in FY1Q; however, management has begun to see the DRAM price stabilizing in
July, supporting a recovery in market demand in CY2H 2019.
Goldman raised FY1Q 2020 net income by 10% to US$157m (from US$143m), and FY2020 net
income by 3% mainly due to the company's strong PC shipment (+18%) in FY1Q 2020 and +2%
ASP increase. It maintained its "buy" rating on Lenovo, with an unchanged target price of
HK$7.5. (KL)

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