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Citi released a research report stating that due to the profit recovery, a "buy" rating was given to Techtronic Ind (00669), with an expected compound annual growth rate of about 18% for earnings per share for the Group from 2024 to 2026. The target price has been raised from 120 Hong Kong dollars to 140 Hong Kong dollars. The report mentioned that under a scenario of declining interest rates in the USA or the EU, the company's financing costs will decrease, and the real estate market and construction activities may improve, thus raising the earnings estimates for the Group by 1 to 2% for 2025 to 2026. The bank expects that it will take 6 to 9 months for the Group to see positive earnings impact after the Fed rate cut, which should stimulate the housing market.
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