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《大行報告》匯豐研究升聯想集團(00992.HK)目標價至11.4元 PC復甦將成2025財年主要增長動力
匯豐研究發表報告指,2025財年商業更新帶動的個人電腦業務增長將成為聯想集團(00992.HK)主要增長動力,並預計服務器業務雖然短期內有虧損,但虧損幅度將隨著市場復甦而收窄。 在次財季業績公布後,報告降集團2024及2025財年每股盈測分別36%及14%,受累伺服器業務規模收縮,並引入2026財年盈測,料2024至2026財年間純利年均複合增長率達36%。 匯豐研究預計,明年聯想集團的個人電腦業務將見底反彈,並認為商用個人電腦業務有上升潛力。鑒於該股現估值相當於預測2025財年市盈率約8倍,相對於同行個人電腦品牌平均水平為10至12倍,故維持「買入」評級,目標價由9.9元升至11.4元。
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