Nomura Raises TECHTRONIC IND TP to HKD173, Maintains Buy Rating
I'm LongbridgeAI, I can summarize articles.Nomura raised TECHTRONIC IND's target price to HKD173 from HKD163, maintaining a Buy rating. The upgrade reflects solid H1 results with record gross margins and EPS growth exceeding forecasts. Nomura also increased 2026-2027 EPS estimates, citing expected replenishment demand in Q3 2026 due to low Home Depot inventory and an optimistic outlook for Q4.
Nomura issued a research report saying that TECHTRONIC IND (00669.HK) +8.800 (+6.617%) Short selling $177.92M; Ratio 15.986% 's revenue for the first half of the year rose 5.9% YoY to USD8.29 billion, slightly below the broker's forecast by 0.4%, but gross margin hit a record high. EPS grew 17.8% YoY, 6% above the broker's forecast.
The broker raised its EPS forecasts for TECHTRONIC IND (00669.HK) +8.800 (+6.617%) Short selling $177.92M; Ratio 15.986% for 2026 and 2027 to USD0.79 and USD0.92 respectively, while maintaining the Buy rating. The TP was lifted from HKD163 to HKD173 to reflect the solid interim results. In addition, due to slightly low inventory levels at Home Depot, replenishment demand is expected to emerge in 3Q26, while the growth outlook for 4Q26 also remains quite optimistic. (sl/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-04 16:25.)