On May 27, Legend Holdings rose 5.92% in regular trading, trading at HK$13.67/share, with trading volume of HK$364 million. The surge was driven by multiple international investment banks raising their target prices for subsidiary Lenovo Group following its strong earnings report.

Specifically, Goldman Sachs significantly raised its target price to HK$27 with a Buy rating; Macquarie raised its target by 68% to HK$21.75 and added the stock to its core recommendation list; CLSA raised its target to HK$21, reiterating an Outperform rating; and UOB Kay Hian upgraded to Buy with a target of HK$20.2. The upgrades followed Lenovo Group's full-year results showing revenue of US$83.08 billion, up approximately 20.3% year-over-year, while operating profit surged approximately 50.7% to US$32.62 billion. Q1 operating profit jumped approximately 167.8% from US$3.31 billion to US$8.86 billion.

Within the Technology Hardware, Storage & Peripherals sector, Lenovo Group rose 5.99%, Huaqin rose 3.91%, Xiaomi-W rose 0.87%, Xiaomi-WR rose 0.85%, and Sunmi Tech-W rose 0.96%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)