UBS: Raises the earnings forecast and target price for Techtronic Industries (00669.HK), optimistic about the demand for AIDC construction supporting long-term growth.

According to the Zhichong Finance APP, UBS has released a research report stating that Techtronic Industries (00669.HK) exceeded expectations in its performance for the first half of the year. As a result, they have raised their forecasts for earnings per share from 2026 to 2028 by an average of about 3%. The target price has been adjusted from HKD 148 to HKD 168, corresponding to a projected price-to-earnings ratio of about 23 times for 2027, which exceeds the historical range of approximately 15 to 20 times for the stock. UBS believes that the valuation premium is reasonable and anticipates stronger earnings growth from 2026 to 2028 compared to the past, maintaining a "Buy" rating.