0407 GMT - Techtronic Industries is expected to deliver strong 2H 2024 results, with more than 15% EPS growth, Nomura analysts say in a research report. The Hong Kong-based multinational is benefiting from factors such as incremental sales in September and October driven by hurricane-related demand, the analysts estimate. The power tools and equipment provider's 4Q 2024 sales are also likely to be robust, supported by seasonal promotion events and restocking demand for outdoor power equipment. Additionally, Nomura forecasts a 2%-3% sales boost in 1Q 2025 due to the Los Angeles fire incident. The brokerage raises its target price for the stock to HK$115.00 from HK$110.00, while maintaining a buy rating. Shares are currently 1.8% lower at HK$96.65. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 12, 2025 23:07 ET (04:07 GMT)
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