星展加入看多陣營：聯想集團(00992.HK)股價要漲這次來真的
星展發佈大行報告，恢復聯想集團(00992.HK)目標價7.7港元，恢復買入。
該公司近日發佈公告，內容有關公司發行於2024年到期6.75億美元3.375%的可換股債券。公司通知由於宣派中期股息，因此轉換價將根據債券的條款及條件第6(c)(iii)(B)項條件作出調整。轉換價(目前為每股7.23港元)將會調整至每股7.13港元，自2020年11月28日(即緊隨確定股東享有中期股息權利之記錄日期後之日)起生效。債券的全部其他條款均維持不變。
此前不久，瑞銀也對聯想的股價給予積極的評價。事實上，多家投行已經紛紛上調聯想集團的目標價，認可其在良好控制經營開支下盈利的潛在上升空間，“對聯想而言，股價啟動上漲模式，這或許僅僅是一個開始。”
瑞銀髮表研究報告指，將聯想集團2021-22財年盈利預測提高6至28%，以反映在良好控制經營開支下盈利的潛在上升空間，並將目標價由6.5元上調至7元，維持“買入”評級。
瑞銀預期，聯想近期會繼續跑贏全球PC行業，主要受惠於集團具有強大的售後服務支持，令其市佔率有望持續上升。另外，集團採購能力強勁，即使在零部件供應緊張的情況下，未來一至兩季集團料亦會處於較佳的定位。
該行又指，隨着高瑞消費者產品貢獻增加，料有助提升集團平均售價及改善個人電腦和智能設備業務的利潤;同時，手機業務亦漸復甦，估計未來一至兩季將有望達收支平衡，並於21財年可進一步提升其盈利能力。
另外，公司也重申對數據中心業務的信心，料未來幾年市佔率增速將可持續跑贏行業水平
有長期研究聯想業務的專業人士表示，聯想堅實的PC業務質量為其現有估值水平帶來了足夠的安全邊際，而同時，這家公司的內在價值正在發生漸進轉變，一旦這種轉變越過某個臨界點，那麼，聯想的估值邏輯也將發生質的改變。這一變化將會讓聯想的股價成長空間迎來樂觀預期。
另據，最近的財報數據顯示，該股實現營業收入2159.68億港元，淨利潤40.53億港元，每股收益0.34港元，毛利332.78億港元，市盈率13.43倍。
與此同時，機構評級方面，在所有19家參與評級的機構中，74%的券商給予買入建議，26%的券商給予持有建議，無券商給予賣出建議。
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