share_log

花旗:维持创科实业“买入”评级 目标价140港元

Citigroup: Maintains a 'buy' rating on Techtronic Ind, target price of HK$140.

新浪港股 ·  Nov 12 22:49

Citi released a research report stating that it maintains the “buy” rating of I&T Industries (00669), with a target price of HK$140.

According to the results of the company's main customer “Home Depot” for the third quarter of fiscal year 2024, same-store sales (SSSG) decreased by 1.3%, better than market expectations of a 2-2.5% decrease, and better than the 3.3% decline in the second quarter. Home Depot raised its FY2024 sales guidance by reducing it by 2.5%. The previous guidance was a 3-4% reduction. SSSG was better than expected, benefiting from better participation in the demand for weather normalization, seasonal products, outdoor projects, and hurricane-related products.

The bank said that since Home Depot is I&T's largest customer, I&T is expected to have good momentum in the third quarter. However, current stock prices are being dragged down by geopolitical factors. The bank sees this as a good buying opportunity. I&T is also one of the bank's top choices for Chinese industrial stocks. The bank preferred Chuangke over Quanfeng Holdings (02285).

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment