According to the Intelligence Finance app, Lyon released a research report stating that it maintains a "outperform" rating on Lenovo Group (00992) with a target price of HKD 13.

The report states that Lenovo Group will announce its Q1 FY2025 performance ending in June on August 15, with a net profit of $0.23 billion, higher than the bank's previous estimate of $0.22 billion, mainly due to the recovery of the server business and the steady performance of the personal computer business, and achieved good gross profit.

The bank expects Lenovo Group's ai server orders to reach $3 billion and will be delivered in fiscal year 2025, and the convertible bonds may not cause dilution on the expiration date after three years due to cost control and new business growth in the Middle East.