Citi expects Lenovo Group to continue strong growth this year, target price lowered to 10.6 yuan, urging "buy"

AASTOCKS
2026.04.02 02:34

Citigroup's research report indicates that Lenovo Holdings (03396.HK) resuming dividends is a positive signal, reflecting management's confidence in the company's growth. The bank also sees that the profit growth from non-Lenovo businesses is sufficient to offset the impact of the decline in Lenovo's contributions, leading to a nearly sevenfold year-on-year increase in group profits.

The bank believes that with the rising production capacity of the Levima project and the gradual improvement of Joyvio Group, Lenovo Holdings' strong growth momentum is expected to continue this year. Taking into account the latest market value of its listed subsidiary and Lenovo Holdings' performance in 2025, the bank has lowered its target price from HKD 14 to HKD 10.6, maintaining a "Buy" rating

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