TC

11/05/2012 10:40

[I-bank focus] UBS raises Lenovo (00992) target to HK$8.5

UBS raised its target price for Lenovo Group (00992)
to HK$8.5 from HK$7.8, and maintained its "buy" call.
It noted that Lenovo shipped 11.7m PC units in 1Q, and expects further room for growth.
The house added the Lenovo is better positioned amidst uncertain European outlook, as it
has a relatively small exposure to Europe (<15%) compared to all other major PC vendors.
Lenovo recently announced a step further into the PC+ era with launch of K-Series Smart
TVs. UBS believes Lenovo's PC+ strategy is trying to develop potential new growth drivers
for 2015 and beyond. (KL)

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