Goldman Sachs: Raises Lenovo Group (00992.HK) target price to HK$27, "Buy" rating

The Zhitong Finance APP learned that Goldman Sachs released a research report stating that Lenovo Group (00992.HK) had strong results at the end of March, confirming the bank's positive view, specifically that the impact of rising memory costs is manageable. As a global leader in the PC industry, Lenovo Group has strong bargaining power with both customers and suppliers, and is benefiting from market share expansion and rising average selling prices. In the previous quarter, Lenovo's PC shipments increased by 8.6% year-on-year, outperforming the global 2.5% year-on-year growth, with a global PC market share expanding to 25.2%. Goldman Sachs believes that AI will continue to drive Lenovo's future growth, raising its non-Hong Kong Financial Reporting Standards earnings estimates for the fiscal years 2027-2029 by 5%, 6%, and 5% respectively, with the target price raised significantly from HK$12.53 to HK$27, and a "buy" rating.