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<Research>JPM Cuts LENOVO GROUP (00992.HK) TP to $13, Rating Overweight
Recommend 10 Positive 16 Negative 5 |
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LENOVO GROUP (00992.HK)'s core business operating profit was in line with expectations for 4FQ ended March, but higher-than-expected headquarters costs led to a much weaker-than-expected quarterly net profit, JPMorgan released a research report saying. The broker lowered its FY2026-FY2027 profit forecasts by 7% each to reflect slower PC terminal demand and slower-than-expected improvement in the profitability of ISG, and extended its valuation base to FY2026. JPMorgan also cut its target price to $13 from $14, with rating kept at Overweight on undemanding valuation. AAStocks Financial News Website: www.aastocks.com |
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