Goldman Sachs: Raises Lenovo Group (00992) target price to HKD 51. Robust server demand and PC growth outperforms peers.

According to the Zhitong Finance APP, Goldman Sachs has released a research report significantly raising its projections for Lenovo Group (00992). The forecasts for non-HKFRS net profit for the fiscal years 2027 to 2029 have been increased by 56%, 63%, and 89%, respectively, while revenue forecasts have been raised by 15%, 12%, and 15%. This adjustment reflects improvements in market share, upgrades to the product portfolio, and support from AI overall solutions for the growth of AI servers, as well as anticipated growth in AI PCs and storage business. The target price has been raised by 64.5% from HK$31 to HK$51, corresponding to a projected price-to-earnings ratio of 18.5 times for the fiscal year 2027, maintaining a "Buy" rating.