Goldman Sachs: Maintains a "Buy" rating on Lenovo Group, raises target price to HK$31.

Goldman Sachs released a research report stating that it has raised Lenovo Group's target price by 14.8%, from HK$27 to HK$31, while maintaining a "buy" rating. Goldman Sachs forecasts Lenovo's earnings per share for the years 2027-2028 to increase by 25% annually, up from the previous forecast of 24%; and the operating profit margin to be 3.8%, up from the previous forecast of 3.7%. The firm expects Lenovo's Infrastructure Solutions Business Group, AI personal computers, and AI servers to drive the company's re-rating, diversify it, and move away from the fiercely competitive consumer electronics market, benefiting from the trend of generative AI development. The firm anticipates that Lenovo, as a global leader in PC brands, will become a major beneficiary of the trend of AI personal computer development.