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<Research>Citi Trims TECHTRONIC IND's TP to $110 w/ Reduced Earnings Forecasts
TECHTRONIC IND (00669.HK) should be able to maintain a better competitive position as most of its US-focused production capacity is located outside China, Citi commented in its res...
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<Research>Citi Trims TECHTRONIC IND's TP to $110 w/ Reduced Earnings Forecasts
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TECHTRONIC IND (00669.HK)  +3.150 (+4.018%)    Short selling $109.83M; Ratio 12.118%   should be able to maintain a better competitive position as most of its US-focused production capacity is located outside China, Citi commented in its research report.

Given the company's plan to shift part of its China operations to Vietnam, Mexico, and the US by the end of FY25 to supply the US market and reciprocal tariffs in Vietnam or Mexico, the broker trimmed its FY25-27 earnings forecasts by 7%/ 5%/ 5%. It also cut its target price for the company from $140 to $110, with a Buy rating.

Related NewsG Sachs Keeps Rating at Buy on TECHTRONIC IND (00669.HK), Drops TP to $92.3
Citi continued to name TECHTRONIC IND as one of its top picks in China's industrial sector, as it is expected to gain market share faster than its competitors under the US reciprocal tariffs.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-02 16:25.)

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