CLSA: Raises Lenovo Group (00992.HK) target price to HK$49.5, expects second fiscal quarter adjusted net profit to beat expectations by 13%

Zhitong Finance APP has learned that CLSA issued a research report stating that it has raised the target price of Lenovo Group (00992.HK) from HK$48.7 to HK$49.5, equivalent to 18 times the forecast diluted price-to-earnings ratio for fiscal year 2028, maintaining an "Outperform" rating and continuing to list it as a top pick. The bank noted that with the accelerated growth of the server business, it has raised its adjusted net profit forecast for the second quarter of fiscal year 2027, ending September 2026, from US$1.1 billion to US$1.18 billion, 13% higher than market expectations, mainly benefiting from better-than-expected revenue and profit margins in the server business.