Investment bank Merrill Lynch said Monday, has lowered the Lenovo Group (0992.HK) rating from "buy" down to "neutral", a new target price is 3.54 Hong Kong dollars, as a result of slowing demand.
The report said that because of the bargaining pressure and demand pressure, they reduce the 2009/10 forecast of Lenovo Group by 17% and 28%.
Lenovo Group last Friday closed at 3.43 Hong Kong dollars. In the past month, the stock has fallen about 27%.
Originally Posted: China Business Daily
Author: Angulo Fu