Zhi Tong Cai Jing·2025-10-22 03:05Core Viewpoint - The report from Credit Lyonnais anticipates Lenovo Group (00992) to achieve a 13% year-on-year revenue growth in Q2 of FY2026, with adjusted net profit expected to rise by 14% [1] Group 1: Revenue and Profit Forecast - Lenovo's IDG business revenue growth is expected to benefit from strong personal computer shipments [1] - The adjusted net profit for Q2 of FY2026 has been revised upward by 3% to USD 436 million [1] Group 2: Server Business Outlook - Despite facing short-term pressures, the server business is projected to reach breakeven by Q4 of FY2026 [1] - Some server orders have been delayed for delivery to subsequent quarters [1] Group 3: Target Price and Rating - The target price for Lenovo has been increased from HKD 11.7 to HKD 12.8 [1] - The rating remains at "outperform" [1]