Citi initiates a 30-day positive catalyst watch on Techtronic Industries

AASTOCKS
2025.12.02 03:49

Citi released a report initiating a 30-day positive catalyst observation for Techtronic Industries (00669.HK), reflecting the bank's expectation that the Federal Reserve will cumulatively cut interest rates three times by the first quarter of 2026; Thanksgiving and Black Friday online sales performed strongly. The "Buy" rating is reiterated, with a target price of HKD 125.

The report indicates that the strong data from these two holiday shopping events aligns with management's earlier guidance, which stated that sales point data for the Milwaukee and Ryobi brands have remained robust over the past few months. However, Techtronic Industries' stock price has fallen 12% since its September high, primarily due to Home Depot (HD.US) lowering its full-year guidance in its third-quarter results, as well as market concerns about weakened demand following price increases due to additional tariffs in the U.S

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