[ET Net News Agency, 14 August 2020] Morgan Stanley raised its target price for
Techtronic Industries (TTI)(00669) to HK$110 from HK$76 and maintained its "equal-weight"
rating.
Despite Covid-19 disrupting both supply and end-markets, TTI delivered a solid beat on
the 1H top-line, driven by both power equipment (e.g., Milwaukee +13%, ROYBI outdoor +25%)
and floor care strength. The research house said this indicates that TTI's product
innovation (on technology advancement) with ongoing investments has paid off.
Compared to peers that saw softer operational performances in 1H, TTI's positive growth
shows acceleration of market share gains, Morgan noted.
Morgan sees revenue growth of 12% in both 2020 and 2021. It sees OPM reaching 9.2% in
2020 and 10.2% in 2021. (KL)
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00669 TECHTRONIC IND
Nominal 
105.000 +2.200 (+2.140%) Others
14/08/2020 15:42
{I-bank focus}Morgan ups Techtronic Ind (00669) to HK$110
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
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