[ET Net News Agency, 5 March 2021] Nomura lifted its target price for Techtronic
Industries (TTI) (00669) to HK$156 from HK$112 and maintained its "buy" rating.
The research house thinks the strong 2020 results were due to not only new product
launches but also TTI's e-commerce initiative and aggressive inventory build-ups, which
allowed TTI to gain market share, particularly in the North American market.
Nomura said TTI's revenue growth is positively correlated with US GDP growth. Hence, it
believes TTI can gain growth momentum. It also thinks the potential US$2tn infrastructure
bill, likely to be passed in 2H, can boost demand for power tools and benefit TTI.
Nomura increased its 2021/22 earnings forecasts by 8%/13%. (KL)
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00669 TECHTRONIC IND
Nominal 
108.800 +2.300 (+2.160%) Research Report
05/03/2021 15:05
{I-bank focus}Nomura lifts Techtronic Ind (00669) to HK$156
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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