CICC: Maintains Lenovo Group (00992) outperform rating, raises target price by 35% to 20 Hong Kong dollars.

Wisdom Financial APP learned that Zhongjin released a research report stating that due to the rapid growth of AI server storage orders and significant improvement in profitability, the target price for Lenovo Group (00992) non-HKFRS net profit for FY27/28 has been raised to 26.7/33.1 billion US dollars, an increase of 34.5%/42.8%. The industry outperformance rating is maintained, with the current stock price corresponding to FY27/28 10.1x/9.2x P/E. Based on a FY27 12x P/E target price increase of 35% to 20 Hong Kong dollars, there is a 27% upside potential.