LEGENDHOLDING (03396) saw its shares rise over 5% during the trading session, with a cumulative increase exceeding 50% for the month. At the time of reporting, the stock was up 7.40%, trading at HKD 14.23, with a turnover of HKD 261 million. Citi released a research report stating that LEGENDHOLDING is the parent company of Lenovo Group. The bank raised its target price for Lenovo Group, reflecting factors such as market share growth amid key component shortages and production capacity constraints, rising average selling prices and increased demand for personal computers (PCs) and GPU servers, sustained operational leverage improvements and an expanded product portfolio following the acquisition of Infinidat, as well as Lenovo Group's better-than-expected latest quarterly results. Citi has updated its model accordingly. The bank views LEGENDHOLDING as a potentially more cost-effective avenue to gain exposure to the same Lenovo business. After accounting for the latest market capitalization of LEGENDHOLDING's listed subsidiaries, Citi raised its target price from HKD 10.6 to HKD 16, maintaining a "Buy" rating. This target is based on a 72% discount to the target net asset value (NAV), which remains one standard deviation below the historical average.