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<Research>Jefferies Maintains Positive Outlook on TECHTRONIC IND (00669.HK), Elevates TP to $117.81
Recommend 3 Positive 3 Negative 0 |
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TECHTRONIC IND (00669.HK) recently announced its 2025 results, with revenue increasing by 4.4% YoY and net profit rising by 6.8% YoY, implying that 2H25 revenue growth of only 1.6% YoY missed expectations, and a net profit decline of 0.2% YoY, according to Jefferies' research report. However, the management remained confident in the Group's 2026 performance, as the uncertainty from tariffs has diminished. The Company expected its brands Milwaukee/ Ryobi to achieve low-teens/ low-to-mid single-digit sales growth, respectively. Due to high valuation, the broker kept rating at Hold, and elevated its target price from $95.35 to $117.81, based on a forecasted 19x PE ratio for 2026. The management was also confident in sustainable gross margin expansion over the coming years, primarily driven by strong growth in the Milwaukee business and excellent performance in Europe, the Middle East, Africa and the Asia-Pacific regions. AASTOCKS Financial News Website: www.aastocks.com |
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