Citibank: Raises the target price of Lenovo Group (00992.HK) to 20 Hong Kong dollars, reiterates "buy" rating.

Zhixin Finance APP learned that Citigroup released a research report stating that it has significantly raised the target price of Lenovo Group (00992.HK) from 12.6 Hong Kong dollars to 20 Hong Kong dollars, maintaining a "buy" rating. The bank also raised the company's earnings forecast for the fiscal years 2027 and 2028 by 53% and 47% respectively, and introduced an adjusted earnings forecast of 27.57 US cents per share for the fiscal year 2029. The bank stated that Lenovo has the advantage of seizing market share in the face of key component shortages and limited production capacity. With the continued demonstration of execution capabilities to achieve operational leverage after acquiring Infinidat, and expanding its product portfolio, the company is also benefiting from the increase in average prices and GPU server prices.