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Techtronic Ind (00669.HK) granted a total of 0.92 million share options.
On August 8th, Gleason announced that according to the stock incentive plan adopted on January 17, 2018 and revised and restructured on May 12, 2023, a total of 920,000 company shares were granted to several directors as incentive shares on August 8, 2024. In addition, on August 8, 2024, the company granted a total of 920,000 share options to several directors for subscribing to shares based on the share option plan adopted on May 19, 2017 and revised and re-stated on May 12, 2023.
Nomura Adjusts Techtronic Industries' Price Target to HK$110 From HK$103, Keeps at Buy
[Brokerage focus] Open source securities maintains a "buy" rating for Techtronic Ind (00669), expecting the recovery of the US real estate market to drive the prosperity of the power tool industry.
Open-source Securities issued a research report stating that Techtronic Ind (00669) is expected to achieve a revenue of 7.132 billion USD in H1 2024, with a year-on-year growth rate of 6.3%. The growth is mainly driven by the core brands of electric tools, Milwaukee (with a year-on-year growth rate of 11.2%) and RYOBI (with a year-on-year growth rate in mid-unit numbers), while the revenue of the floor care business decreased slightly by 0.4% year-on-year. In H1 2024, the net income reached 0.55 billion USD, with a year-on-year growth rate of 15.7%, higher than the revenue growth rate. This was due to the contribution from the gross margin improvement, the reduction of interest expense, which offset the impact of the increase in research and development expenses. The bank maintains its forecasts for 2024-20.
Nomura: Rates Techtronic Ind as "buy" and target price lowered to HKD 110.
Nomura has released a research report stating that it has given a "buy" rating to Techtronic Ind (00669), believing that its business is global and is estimated to be unaffected by geopolitical risks. Its target price has been lowered from HKD 103 to HKD 110. The company's mid-term net profit increased by 15.7% to USD 550 million, in line with market expectations. The bank believes that Techtronic's H1 revenue increased by 6.3% YoY to USD 7.3 billion, 5.3% higher than market expectations, mainly due to the steady growth of local currency sales of Milwaukee business by 11.2%. The bank expects the company's H2 revenue to achieve mid-single-digit growth, and its long-term growth trajectory remains unchanged.
[Brokerage Focus] Nomura raises target price of Techtronic Ind. (00669) by 6.8%, expecting strong Q3 performance.
Kingo Financial News | Nomura issued a research report that Techtronic Industries (00669) had a 15.7% YoY increase in profit and income to 0.55 billion USD in the first half of the year, meeting market expectations, mainly benefiting from strong revenue growth and gross margin expansion, but this was offset by the increase in operating expenses and effective tax rate. The company's revenue increased by 6.3% to 7.3 billion USD, higher than the market consensus of 5.3%, mainly benefiting from the strong sales growth of Milwaukee business. The bank expects income to grow by 6.3% YoY and profit to grow by 15.2% YoY in the second half of 2024 in a weak US home sales environment. Expected.
JPMorgan raised the target price of Techtronic Ind to HKD 135, maintaining a "shareholding" rating.
JPMorgan released a research report stating that regardless of the macroeconomic situation, Techtronic Ind's Milwaukee brand will maintain double-digit revenue growth and even higher profit and free cash flow growth in the next five years. This is mainly due to the high-speed growth of the vertical industry, the growth prospects of the EMEA market including Europe, Middle East, and Africa, the expansion room for profit margins, and excellent performance in generating free cash flow. In addition, JPMorgan basically maintains its after-tax operating profit forecast for Techtronic for fiscal years 2024 to 2026, but increases its forecast for free cash flow performance. Considering the above factors,
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