<ET Net News Agency, 22 June 2012> Citigroup cited Lenovo's (00992) mnagement indicating that a Taiwan newspaper's report misled investors.
First, Lenovo's full-year PC shipment guidance is +15~20% y/y and not +20~25% y/y as the press cited. Second, Lenovo didn't guide down its full-year shipment target, and the June quarter looks on track to meet guidance.
citi holds its positive view on Lenovo with a "buy" rating and a target price of HK$7.8.
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