[ET Net News Agency, 14 August 2020] HSBC Global Research lifted its target price for
Techtronic Industries (00669) to HK$115 from HK$90 and maintained its "buy" rating.
The research house said TTI's net income was up 16.3% to US$332m in 1H, with net margin
expanding 0.3ppt to 7.9%. TTI attributed the strong performance to its decision to step up
during the pandemic, while competitors scaled back.
HSBC said this business risk has helped TTI gain market share to outperform the overall
market, which should continue into 2H and future years with TTI's streamlined battery
platform and best new products pipeline compared with peers. (KL)