According to a research report published by Citigroup, Lenovo Group's performance for the first quarter of the 2026/27 fiscal year ended at the end of June was strong, far exceeding expectations, further strengthening the structured growth narrative driven by artificial intelligence. Revenue for the period surged 43% year on year to US$26.943 billion, a record quarterly high, 24% and 20% higher than Citi's and market expectations, respectively. Non-GAAP net profit surged 176% year over year to US$1,075 million, which was 64% and 149% higher than Citibank's and market expectations, respectively, and the non-GAAP net profit margin expanded to 4%. Citi said that based on the classification plus valuation method, Lenovo Group's target price was set at HK$31, corresponding to the projected price-earnings ratio for the 2028 fiscal year. Among them, the IDG and SSG businesses were valued at a price-earnings ratio of 10 times, and the ISG business was valued at a price-earnings ratio of 16.7 times, which is consistent with the level of peers. The bank maintains Lenovo Group's “buy” rating and is optimistic about strong server demand prospects and profitability, as well as the stable performance of the PC, mobile phone and service businesses.

According to a research report published by Citigroup, Lenovo Group's performance for the first quarter of the 2026/27 fiscal year ended at the end of June was strong, far exceeding expectations, further strengthening the structured growth narrative driven by artificial intelligence. Revenue for the period surged 43% year on year to US$26.943 billion, a record quarterly high, 24% and 20% higher than Citi's and market expectations, respectively. Non-GAAP net profit surged 176% year over year to US$1,075 million, which was 64% and 149% higher than Citibank's and market expectations, respectively, and the non-GAAP net profit margin expanded to 4%. Citi said that based on the classification plus valuation method, Lenovo Group's target price was set at HK$31, corresponding to the projected price-earnings ratio for the 2028 fiscal year. Among them, the IDG and SSG businesses were valued at a price-earnings ratio of 10 times, and the ISG business was valued at a price-earnings ratio of 16.7 times, which is consistent with the level of peers. The bank maintains Lenovo Group's “buy” rating and is optimistic about strong server demand prospects and profitability, as well as the stable performance of the PC, mobile phone and service businesses.