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<Research>BofAS Cuts LENOVO GROUP (00992.HK) TP to $9.9, Reaffirms Neutral Rating
Recommend 15 Positive 14 Negative 8 |
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LENOVO GROUP (00992.HK)'s 3FQ26 profit beat the expectations of BofA Securities/ the market by 15%/ 9% each, BofA Securities issued a research report saying. Sales were in line with the broker's expectation, but 8% above market consensus. Operating profit beat the expectations of BofA Securities/ the market by 25%/ 14% respectively, while gross margin slightly missed estimations. Based on LENOVO GROUP's latest results, BofA Securities raised its FY2026 earnings forecast by 9%, but lowered its 2027-2028 earnings forecasts by 10-13% to reflect profit headwinds. Therefore, the broker cut its target price for the Company from $10.5 to $9.9, with rating reiterated at Neutral. AASTOCKS Financial News Website: www.aastocks.com |
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