HK-listed power tool maker Techtronic rises on Daiwa TP hike

Techtronic Industries Co

12/09/2019 08:10

** Shares of power tools maker Techtronic Industries Co Ltd
 0669.HK  rise as much as 4.4% to HK$57.55; on track for second
consecutive session of gains
    ** Brokerage Daiwa maintains "buy" on the stock, while
raising target price to HK$65 from HK$63 
    ** Says Techtronic's long-term revenue growth and
gross-margin expansion story remain intact as its Milwaukee
brand is on course for multi-year revenue growth 
    ** Daiwa revises upwards Techtronic's 2019-21 earnings
estimates after factoring in stronger revenue growth visibility 
    ** As of Wednesday's close, the stock had risen 32.5% this
year
    ** Techtronic, with current market value of HK$104.12
billion ($13.30 billion), has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 5.2 percentage
points in the past one month
    ** The Hang Seng Commerce & Industry Index  .HSNC  gains
0.3%, and the the benchmark index  .HSI  edges down 0.1% on
Thursday
    ($1 = 7.8273 Hong Kong dollars)

 ((Reuters Messaging:
donny.kwok.thomsonreuters.com@reuters.net))