J.P. Morgan: Raises Lenovo Group's target price to HK$14, expecting surprising quarterly results

Golden Ten Data on February 10, JPMorgan Chase issued a report that predicts that Lenovo Group (00992. HK) had a strong performance last quarter, raising its target price by 16.7% to HK$14. The report pointed out that Lenovo's business performed well, which is expected to surprise the market with its quarterly performance last quarter, stimulating the stock price to rise by 2 to 4 last week, far stronger than the Hang Seng Index rising by only 3%. JPMorgan Chase & Co. estimates that the development of AI PCs is still in the initial stage, but the success of DeepSeek is expected to promote the development of small models, and it is estimated that the outlook for the industry is still positive before the Taipei International Computer Show (Computex) in May. As a result, JPMorgan maintained its overweight rating on Lenovo and raised its target price by 16.7% from HK$12 to HK$14 based on stable earnings upside.