Shares of Chinese PC giant Lenovo Group rose 11.1 per cent yesterday, the biggest one-day gain in nearly three years. At least six brokerage firms upgraded their Lenovo forecasts after the firm announced quarterly net profits of $337 million, beating the street consensus by nearly 20 per cent. The optimism was also fuelled by a turnaround in Lenovo's handset business after five consecutive quarterly losses. Not all analysts bought into the Lenovo story, however. 'The handset business could easily swing into losses again, given slowing demand and excess inventory building,' a JP Morgan analyst wrote in a report.