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00669 TECHTRONIC IND
RTNominal up108.800 +2.300 (+2.160%)
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17/07/2019 12:01

[I-bank focus]Techtronic Ind (00669) 1H net seen at US$290m

[ET Net News Agency, 17 July 2019] Techtronic Industries (00669) will release its 1H
results on 14 August. Citi Research projected its interim earnings growth at 14% to
US$290m against revenue growth of 11% to US$3.81bn.
The research house said its 2019 forecast implies slightly faster pace 2H earnings
growth at 16% to US$346m due to a lower base, and the marketing cost would be front-loaded
to 1H for the official launch of new home appliances.
The stock has bounced 23% over the past 6 weeks thanks to lower possibility for
inclusion of US$325bn into sanction list and the increasing possibility of Fed rate cut.
Cit maintained its "buy" call on Industries, with a target price of HK$63. (KL)

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