CLSA issued a research report forecasting that TECHTRONIC IND (00669.HK) +0.500 (+0.448%) Short selling $46.22M; Ratio 10.079% 's 1H24/ 2024 revenue will rise 6%/ 6.6% YoY, accelerating from the 3.6% incline in 2023. CLSA expected TECHTRONIC IND's 1H24 net profit to grow 17.3% YoY, benefiting from a 43-bps YoY increase in gross profit margin to 39.7%.
CLSA believed that TECHTRONIC IND will continue to show strong market share gain ability, as its peers Stanley (SWK.US) and Makita both reported lower sales in North America and Europe in 1Q24.
CLSA maintained its earnings forecast for TECHTRONIC IND unchanged, and elevated its target price from $118 to $138, which is equivalent to the projected PE ratio of 21x (originally 20x) for 2025 and 2026, on the basis of continued business growth normalization.
CLSA kept rating at Buy for TECHTRONIC IND, and saw the stock as its top pick.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-10 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
