Macquarie: Techtronic Industries (00669.HK) reported first half results that exceeded expectations; target price raised to HKD 157.

According to the Zhizhong Financial APP, Macquarie has released a research report stating that, considering the better-than-expected performance in the first half of the year and a more positive outlook for the end market, it has revised its forecasts for Techtronic Industries (00669.HK) net profit for 2026 and 2027 up by 1% and 2% respectively. The target price has been adjusted upwards by 2% from HKD 154 to HKD 157, which corresponds to a predicted price-to-earnings ratio of 20 times for 2027, maintaining an "outperform" rating.