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Citi Raises LEGENDHOLDING (03396.HK) TP to HKD17; Significant Discount at Current Price Level
2026-06-30 12:18:11
Citi published a research report stating that, based on the bank's recent upward revision of earnings forecasts for LENOVO GROUP (00992.HK), as well as LENOVO GROUP (00992.HK)'s recent completion of a USD2 billion zero-coupon convertible bond issuance, it accordingly raised the TP for LEGENDHOLDING (03396.HK) from HKD16 to HKD17. Citi said that although the share price has retreated recently, LEGENDHOLDING (03396.HK) is still trading at a significant discount of about 78% to the bank's estimated net asset value (NAV) per share at the current price level, while maintaining its "Buy" rating. Citi also lowered its FY2026 earnings forecast for LEGENDHOLDING (03396.HK) by 3%, while raising its FY2027-FY2028 earnings forecasts by 32% to 36%, and lifted its NAV forecast for the end of next year by 7%. (gc/da)~

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