UBS Global Research lifted its target price for Techtronic Industries (TTI) (00669) to HK$158 from HK$130 and maintained its "buy" rating.
In the near term, the research house believes the sustained robust US home improvement market and accelerating Pro demand could drive positive earnings surprise; over the medium term, UBS thinks TTI is ahead of its peers and well-positioned for the coming "spillover" effect from the advancement of electric vehicle batteries.
Along with the potential US infrastructure stimulus, UBS raised its 2020-25 earnings estimates by 2-8%. At 31x 2021 PE, it thinks the market has not fully priced in its stronger growth prospects (24% earnings CAGR over 2020-22 versus 15% over 2016-19) and
high-tech nature (versus high-tech peers' 40x).
23/02/2021 18:01
{I-bank focus}UBS lifts Techtronic Ind (00669) to HK$158
- 經濟通
- 強化版MQ
- 強化版TQ
- 財曆
- Mobile
Web
