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00669 TECHTRONIC IND
RTNominal up116.800 +5.400 (+4.847%)
Research Report

09/06/2020 10:47

{I-bank focus}CLSA lifts Techtronic Ind (00669) to HK$88

[ET Net News Agency, 9 June 2020] CLSA lifted its target price for Techtronic
Industries (TTI)(00669) to HK$88 from HK$70 and maintained its "buy" rating.
The research house has been expecting TTI to see less vulnerable performance under
Covid-19 versus its past sales down-cycles in 2006 and 2009. But the May job numbers
showed a month-on-month gain, signalling a restart of the economy. The gradual relaxation
of lock-down measures should help sequential demand rebound, especially for professional
tools.
CLSA lifted its 2020 profit forecast by 12.8% to factor in likely solid sales
performance during the Covid-19 outbreak, with its 2021-22 forecasts largely unchanged.
(KL)

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