Goldman Sachs analyst Verena Jeng added Lenovo to the firm’s APAC Conviction List, keeping a Buy rating and a price target of HK$13.98 on the shares. The firm expects a combination of the Windows 11 cycle with the increasing proliferation of AI PCs to drive a re-acceleration in Lenovo’s topline growth with expanding margins. In addition, the contribution from general servers is improving through share gains and product mix upgrades, as well as better GPU supply helping with their AI server ramp up, Goldman adds.
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