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<Research>HSBC Research Trims TECHTRONIC IND (00669.HK) TP to $108 on ST Sales Slowdown but Solid Interim Outlook
Recommend 5 Positive 6 Negative 4 |
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TECHTRONIC IND (00669.HK)'s share price has fallen approx. 9% YTD, significantly underperforming the HSI, which has risen about 30% YTD, due to growth slowdown caused by tariff uncertainties, HSBC Global Research issued a research report saying. The broker believed that the Company's interim outlook remains solid, and forecasted a CAGR of 7% for revenue and 14% for EPS from 2024 to 2027. However, short-term pressures remain from sales slowdown and the termination of the HART business. Nevertheless, HSBC Global Research believed that TECHTRONIC IND's sell-through remains strong, and restocking demand should boost 2026 growth performance. The broker now lowered its 2H25 revenue growth forecast from 5.1% to 2.3%, and reduced its EBIT margin forecast for the same period from 8.8% to 8.4%. Therefore, HSBC Global Research trimmed its target price from $112 to $108, with rating kept at Buy, believing that TECHTRONIC IND will continue to gain market share in an uncertain trade environment, and margin expansion may accelerate starting next year. AASTOCKS Financial News Website: www.aastocks.com |
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