On May 28, Legend Holdings rose 5.51% in regular trading, trading at HK$13.73/share, with trading volume of HK$82.27 million. The rally was driven by the continued market response to strong financial results from subsidiary Lenovo Group and a wave of target price upgrades from major international investment banks.

Lenovo Group previously reported full-year revenue growth of approximately 20.3% year-over-year, with operating profit surging roughly 50.7%. Notably, for Q1 (January to March), revenue reached US$21.59 billion, up approximately 27.1% YoY, while operating profit jumped from US$3.31 billion to US$8.86 billion, representing a gain of approximately 167.8%. Following the results, Goldman Sachs raised its target price to HK$27 with a Buy rating; Macquarie lifted its target 68% to HK$21.75, adding the stock to its core picks list; CLSA raised its target to HK$21, reiterating Outperform; and UOB Kay Hian upgraded to Buy with a HK$20.2 target. Analysts noted that Lenovo is accelerating its transformation from a traditional PC company toward an AI infrastructure enterprise, with AI expected to continue driving future growth.

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