[ET Net News Agency, 17 August 2020] Goldman Sachs lifted its target price for
Techtronic Industries (TTI)(00669) by 33% to HK$105.8 to reflect earnings changes and
maintained its "neutral" rating.
The research house cited TTI's management emphasizing on market share gains. Goldman
believed the impressive 1H result was a combination of COVID tailwinds and strong
execution, with the latter probably playing a more important role.
Looking ahead into 2H 2020/2021, Goldman expects the consumer/professional underlying
market trend to reverse (DIY trend to fade but industrial demand to accelerate as economic
activities gradually normalize), while recognizing better-than-expected share gains are
likely to persist given TTI's aggressive new product launch pipeline.
Goldman raised 2020-25 EPS forecasts by 5-26%, mainly due to TTI's recent outperformance
against the underlying industry and prior Goldman's estimates. (KL)
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00669 TECHTRONIC IND
Nominal 
106.500 -0.200 (-0.187%) Research Report
17/08/2020 12:24
{I-bank focus}Goldman ups Techtronic Ind (00669) to HK$105.8
| Remark: | Real time quote last updated: 25/04/2024 17:31 |
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