Zacks Investment Research upgraded shares of Lenovo Group (OTCMKTS:LNVGY) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. They currently have $13.00 price target on the technology company’s stock.
According to Zacks, “Lenovo Group Limited is a personal technology company. The Company is dedicated to building PCs and mobile internet devices. Lenovo’s business is built on product innovation, a highly-efficient global supply chain and strong strategic execution. Formed by Lenovo Group’s acquisition of the former IBM Personal Computing Division, the company develops, manufactures and markets reliable, high-quality, secure and easy-to-use technology products and services. Its product lines include legendary Think-branded commercial PCs and Idea-branded consumer PCs, as well as servers, workstations, and a family of mobile internet devices, including tablets and smart phones. Lenovo has major research centers in Yamato, Japan; Beijing, Shanghai and Shenzhen, China; and Raleigh, North Carolina. Lenovo Group Limited is based in Quarry Bay, Hong Kong. “
A number of other research firms also recently weighed in on LNVGY. ValuEngine downgraded Lenovo Group from a hold rating to a sell rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. downgraded Lenovo Group from an overweight rating to a neutral rating in a research note on Thursday, May 21st. Finally, Goldman Sachs Group downgraded Lenovo Group from a buy rating to a neutral rating in a research note on Friday, March 27th.
Lenovo Group (OTCMKTS:LNVGY) last announced its quarterly earnings data on Tuesday, May 19th. The technology company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The business had revenue of $10.58 billion during the quarter, compared to analyst estimates of $9.24 billion. Lenovo Group had a net margin of 1.31% and a return on equity of 16.00%. Analysts anticipate that Lenovo Group will post 1.48 EPS for the current year.
Lenovo Group Company Profile
Lenovo Group Limited, together with its subsidiaries, develops, manufactures, and markets technology products and services. It offers commercial and consumer personal computers, as well as servers and workstations; mobile Internet devices, including tablets and smart phones; storage and networking products; memory and processors; rack and power infrastructure; and laptops, desktops, and accessories, as well as operating systems, security, and systems management software.
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