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Fly News Breaks for February 22, 2019
LNVGY
Feb 22, 2019 | 07:22 EDT
Nomura Instinet analyst Patrick Chen upgraded Lenovo to Buy and raised his price target for the shares to HKD8.2 from HKD5.6. The earnings risks for Lenovo have largely reduced with the successful execution of smartphone business transitions, share gain at the data center hardware market, and strengthening leadership in the PC space, Chen tells investors in a research note. He believes the stock's risk/reward is "turning attractive" and sees potential for 22.9% upside.
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