Lenovo Group (0992.HK) shares rose on Wednesday. The stock bucked a broader market decline. Nomura upgraded the company from Neutral to Buy. The investment bank raised its target price from HKD 11 to HKD 16.
Strong demand for general-purpose and AI servers will likely improve business profitability. This outlook offsets market concerns about a personal computer segment slowdown. Nomura raised earnings forecasts for fiscal years 2026 through 2028 by 9% to 45%.
Lenovo shares opened 0.55% higher. The stock traded up 0.87% during the day. Prices reached HKD 12.82 during the session. The shares hit an intraday high of HKD 13.07. Trading activity showed significant turnover. The Hang Seng Index fell during the same period.