CITIC CLSA says Lenovo Group (00992.HK) delivered a stronger-than-expected Q1
FY2027 (period ended June), driven by a rapid recovery in server revenue and
margins. The broker raises its PT to HK$48.7 from HK$36 and keeps an Outperform
rating, upgrading adjusted net profit forecasts for FY2027 and FY2028 by 40% and
35% to US$4.4bn and US$4.8bn. CITIC CLSA cites Lenovo’s growing role in the AI
server market and retains it as a top pick in its China tech coverage.