The Zhitong Finance App learned that Nomura released a research report stating that it raised the target price of Innovation and Technology Industries (00669) by 8% from HK$100 to HK$108, with a “buy” rating. Group guidance is strong, and Milwaukee's sales are expected to grow by double digits in 2024. Chuangke Industrial's solid performance in the second half of 2023 was mainly supported by Milwaukee's growth. Profit increased 0.2% year over year to US$500 million, lower than market expectations of 0.9%; earnings per share were in line with expectations; revenue rose 10.2% to US$6.9 billion per year, 4% higher than market expectations.