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Nomura: Maintains buy rating for Techtronic Ind, target price lowered to HKD 103.
Nomura released a research report stating that it has maintained a "buy" rating on Techtronic Ind (00669). Due to the weak US real estate market in the first half of this year and the expectation of weak growth in Techtronic OPE business in the third quarter of this year, the company's earnings per share forecast for fiscal year 2024 was lowered from $0.62 to $0.6; for fiscal year 2025, it was lowered from $0.69 to $0.68, and the target price was lowered from HKD 108 to HKD 103. The bank expects that Techtronic Ind's revenue in the first half of fiscal year 2024 will grow at a mid-single-digit rate year-on-year, mainly due to the replenishment of portable outdoor power equipment (OPE) in the first quarter of this year.
Nomura: Maintains a "buy" rating for Techtronic Ind. (00669) with a target price lowered to HKD 103.
Zhī tōng cái jīng APP learned that Nomura released a research report stating that it maintains a "buy" rating for Techtronic Ind (00669). In response to the weakness of the US real estate market in the first half of this year and the expected weak growth of Techtronic OPE business in the third quarter of this year, the earnings per share forecast for fiscal year 2024 was lowered from $0.62 to $0.60, and from $0.69 to $0.68 for 2025, and the target price was lowered from HKD 108 to HKD 103. The bank predicts that Techtronic Ind's revenue in the first half of fiscal year 2024 will record a mid-single-digit year-on-year growth, mainly due to the growth of portable outdoor activities in the first quarter of this year.
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.
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.
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.
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.
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