---
title: "In \"The Big Banks,\" Citigroup raised the target price for TECHTRONIC IND to 136 yuan, reiterating \"Outperform the Market.\""
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/277870875.md"
description: "Citi raised the target price for TECHTRONIC IND to 136 yuan, reiterating a \"outperform\" rating. TECHTRONIC IND's revenue last year increased by 4.4% year-on-year to USD 15.2 billion, net profit rose by 6.8% to USD 1.2 billion, and gross margin increased to 41.2%. It is expected that Milwaukee will achieve low double-digit growth this year, driving gross margin growth. Management guided for an EBITDA margin of 10% by 2027. Revenue forecasts for 2026 and 2027 were lowered by 1.8% and 1.6%, respectively, while profit forecasts were raised by 0.1% and 1%"
datetime: "2026-03-05T03:13:51.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/277870875.md)
  - [en](https://longbridge.com/en/news/277870875.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/277870875.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/277870875.md) | [繁體中文](https://longbridge.com/zh-HK/news/277870875.md)


# In "The Big Banks," Citigroup raised the target price for TECHTRONIC IND to 136 yuan, reiterating "Outperform the Market."

Citi published a research report stating that TECHTRONIC IND (00669.HK) had a revenue increase of 4.4% year-on-year to USD 15.2 billion last year, which was below expectations, but still outperformed peers. Net profit rose 6.8% year-on-year to USD 1.2 billion, slightly below market expectations, with a gross margin increasing to 41.2%.

The bank expects that due to strong end demand in technology, energy, and manufacturing sectors, as well as recurring sales from service and maintenance businesses, Milwaukee will achieve low double-digit growth this year, which will continue to drive annual gross margin growth by 40 basis points. Management guidance indicates an EBITDA margin of 10% by 2027.

The bank has lowered its revenue forecasts for the group for 2026 and 2027 by 1.8% and 1.6%, respectively, while raising its profit forecasts by 0.1% and 1%. Its target price has been raised from HKD 108 to HKD 136, reiterating its rating as "outperform."

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- [TECHTRONIC IND (00669.HK)](https://longbridge.com/en/quote/00669.HK.md)

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