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《大行報告》大華繼顯降聯想集團(00992.HK)目標價至10.5元 2025財年復甦可能較預期緩慢
大華繼顯發表報告指出,聯想集團(00992.HK)2024財年第三季業績穩健,所有分部的收入及盈利能力均略勝預期。惟該行估計公司2025財年復甦可能較預期緩慢,主要由於企業客戶推遲上半年的採購,同時等待更有意義的人工智能電腦(AI PC)的發布。 然而,該行預期聯想AI PC驅動的換機周期或將於2024年下半年開始,而2025至2026年AI PC的滲透率可能驚喜上升,從而有機會提振該期間的盈利增長。 該行對聯想維持「買入」評級,目標價由12.1元下調至10.5元,認為2024年上半年前景較弱下,公司股價短期內或面臨拋售壓力,但該行相信任何股價調整都將提供更多的買入機會,因該行預期隨著未來幾個月更多應用及新AI PC的推出,市場將關注生成式人工智能(GenAI)帶來的巨大機遇。
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