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<Research>DBS Upgrades LENOVO GROUP (00992.HK) to Buy, Raises TP to $10
Recommend 11 Positive 23 Negative 6 |
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DBS commented that the doubling of TSMC's (TSM.US) GPU supply will ease chip shortages, boosting global market share for AI servers from 11% in 2023 to 20% in 2025. LENOVO GROUP (00992.HK)'s AI server shipments are forecasted to surge 108% YoY in FY25, driving earnings growth of 43% and 38% in FY25 and FY26, respectively. DBS upgraded LENOVO from Hold to Buy, reflecting the turnaround of its server business and the recovery of its PC business driven by the replacement rush. The broker also lifted its target price from $8.4 to $10, equivalent to 11.5x FY25 forecasted P/E. AAStocks Financial News |
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