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BofAS Cuts LENOVO GROUP (00992.HK) TP to $9.9, Reaffirms Neutral Rating
2026-02-13 15:09:02
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.
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