Citi Raises LEGENDHOLDING TP to HKD17; Significant Discount at Current Price Level
I'm LongbridgeAI, I can summarize articles.Citi raised LEGENDHOLDING's target price to HKD17 from HKD16, citing earnings revisions for Lenovo Group and a recent USD2 billion convertible bond issuance. Despite lowering FY2026 forecasts by 3%, Citi increased FY2027-2028 estimates by 32-36% and lifted NAV forecasts by 7%. The bank maintains a 'Buy' rating, noting the stock trades at a significant 78% discount to its estimated net asset value.
Citi published a research report stating that, based on the bank's recent upward revision of earnings forecasts for LENOVO GROUP (00992.HK) +1.380 (+6.485%) Short selling $1.03B; Ratio 29.514% , as well as LENOVO GROUP (00992.HK) +1.380 (+6.485%) Short selling $1.03B; Ratio 29.514% 's recent completion of a USD2 billion zero-coupon convertible bond issuance, it accordingly raised the TP for LEGENDHOLDING (03396.HK) +0.395 (+2.951%) Short selling $11.08M; Ratio 6.940% from HKD16 to HKD17. Citi said that although the share price has retreated recently, LEGENDHOLDING (03396.HK) +0.395 (+2.951%) Short selling $11.08M; Ratio 6.940% 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) +0.395 (+2.951%) Short selling $11.08M; Ratio 6.940% 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)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-29 16:25.)