Citi has confidence in Techtronic Industries' annual performance and reiterates a "Buy" rating, expecting further interest rate cuts in the U.S. next year

AASTOCKS
2025.11.05 02:57

Citigroup's research report indicates confidence in Techtronic Industries (00669.HK) for its full-year performance, as its peer Stanley Black & Decker (SWK.US) also maintains guidance for organic revenue growth to remain roughly flat for the year.

The firm noted that both Techtronic Industries and Stanley Black & Decker have recently seen stock price pullbacks due to the uncertainty surrounding the Federal Reserve's stance on whether to cut interest rates again in December. However, the firm believes that Techtronic Industries, based on its current price-to-earnings ratio of about 14 times, a dividend yield of over 3%, and an expected annual compound growth rate of 14% over the next three years, has experienced an excessive price correction.

The firm reiterated its "Buy" rating on Techtronic Industries, expecting the Federal Reserve to continue cutting rates next year, and believes that the U.S. tariff war will not escalate further; target price is HKD 125

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