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00669 TECHTRONIC IND
RTNominal down106.100 -3.000 (-2.750%)
Research Report

23/02/2021 18:01

{I-bank focus}UBS lifts Techtronic Ind (00669) to HK$158

[ET Net News Agency, 23 February 2021] UBS Global Research lifted its target price for
Techtronic Industries (TTI) (00669) to HK$158 from HK$130 and maintained its "buy" rating.
In the near term, the research house believes the sustained robust US home improvement
market and accelerating Pro demand could drive positive earnings surprise; over the medium
term, UBS thinks TTI is ahead of its peers and well-positioned for the coming "spillover"
effect from the advancement of electric vehicle (EV) batteries.
Along with the potential US infrastructure stimulus, UBS raised its 2020-25 earnings
estimates by 2-8%. At 31x 2021 PE, it thinks the market has not fully priced in its
stronger growth prospects (24% earnings CAGR over 2020-22 versus 15% over 2016-19) and
high-tech nature (versus high-tech peers' 40x). (KL)

Remark: Real time quote last updated: 28/03/2024 18:00
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