Lenovo: Positives Are Priced In For This AI PC Play

News Snapshot:

Jovana Kuzmanovic Elevator Pitch Lenovo Group Limited (OTCPK:LNVGY) [992:HK] is rated as a Hold. My prior August 18, 2023 write-up was focused on the company's below-expectations Q1 FY 2024 (April 1, 2023 to June 30, 2023) financial performance and its AI-related investments. Lenovo is a proxy for the rising penetration rate of AI PCs. But Lenovo's shares are at best fairly valued, so the AI PC investment has already been priced into the company's stock price and valuations to a large extent. This explains why I have decided to maintain a Hold rating for Lenovo. Lenovo's shares can be traded...