[ET Net News Agency, 4 December 2018] J.P. Morgan raised its target price for
Techtronic Industries (TTI)(00669) to HK$65 from HK$58 and maintained its "overweight"
rating.
The research house made some adjustments in its FY2019 estimates to factor in the less
impact from a potential increase in import tariffs for certain products exported to the US
by TTI.
JPM had previously factored in a 50% chance that import tariffs would impact all the
exports from China to the US; but given the recent trade news (a 3-month moratorium on new
tariffs) and a general easing of trade tensions, it has halved the likelihood of tariffs
spreading to all goods to 25%.
JPM increased its sales estimates for 2019 by 2.8% and GPM by 0.5% and reduced its net
profit expectations by 8.4%. (KL)
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00669 TECHTRONIC IND
Nominal 
108.800 +2.300 (+2.160%) Others
04/12/2018 10:54
[I-bank focus]JPM ups Techtronic Industries (00669) to HK$65
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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