Credit Suisse: Raises Target Price for Lenovo Group to HK$48.7, Maintains "Outperform" Rating

BlockBeats News, August 17th - CICC Lion has released a report stating that Lenovo Group's performance for the first quarter of the fiscal year 2027, ending in June, far exceeded expectations. This was mainly driven by the rapid growth in server business revenue and profit margins. The report believes that the group is transforming into a key player in the AI server market. The target price has been raised from HK$36 to HK$48.7, maintaining an "Outperform" rating.

The bank has respectively raised Lenovo's adjusted net profit forecasts for the fiscal years 2027 to 2028 by 40% and 35% to $4.4 billion and $4.8 billion, maintaining it as the top pick in the Chinese technology sector.