HK stock market unusual movement | Techtronic Ind (00669) opened up nearly 4% with optimistic short and long-term prospects. UBS Group predicts the company's mid-term performance may exceed market expectations.

Techtronic Ind (00669) opened up nearly 4%, as of press time, up 3.99% at HKD 92.60, with a turnover of HKD 15.8311 million.

Zhitong Finance21:24 ET

Techtronic Ind (00669.HK) canceled 0.25 million repurchased shares on July 11.

On July 11th, Gelunhui reported that Techtronic Ind (00669.HK) announced the cancellation of 0.25 million repurchased shares on July 11, 2024.

Gelonghui FinanceJul 11 05:31 ET

UBS Group maintains a 'buy' rating for Techtronic Ind with a target price of HKD121.

UBS Group released a research report and maintained its buy rating on Techtronic Ind (00669). It believes that Techtronic's diversified capabilities and battery procurement enable it to handle potential trade frictions. The bank also expects a smooth handover of the CEO position and sets the target price at HKD 121. The company's stock has dropped by 20% since its peak in May due to various macro factors such as the pace of interest rate cuts by the US Federal Reserve and worries of increased tariffs, as well as internal factors such as the change of CEO. However, the bank believes that the company's fundamentals remain intact and is optimistic about its short-term and long-term prospects. According to the bank, Techtronic's mid-term performance is expected to outperform the market, based on the company's survey of mainland suppliers and comparison with peers.

新浪港股Jul 11 02:46 ET

UBS Group: Maintains a "buy" rating for Techtronic Ind (00669) with a target price of HKD 121.

UBS Group expects a 8.3% year-on-year increase in revenue for China Create Capital in the medium term.

Zhitong FinanceJul 11 02:12 ET

Techtronic Ind. (00669.HK) issued 0.147 million shares by exercising its share purchase rights.

On July 10th, Geelong announced that Techtronic Ind (00669.HK) will issue 0.147 million new shares in accordance with the post-listing stock purchase plan (adopted on May 19, 2017) by exercising the granted stock purchase rights on July 10th, 2024.

Gelonghui FinanceJul 10 05:44 ET

Nomura Adjusts Techtronic Industries' Price Target to HK$103 From HK$108, Keeps at Buy

05:14 AM EDT, 07/10/2024 (MT Newswires) -- Nomura Adjusts Techtronic Industries' Price Target to HK$103 From HK$108, Keeps at BuyPrice (HKD): $88.30, Change: $-1.20, Percent Change: -1.34%

MT NewswiresJul 10 05:14 ET