不过，大和发布研报称，相信市场对潜在新关税担忧可能过度，因为创科已分散全球生产布局，根据该行估计，明年中国产能只占其整体产能的三分之一，并相信公司具议价能力，重申“买入”评级。大和下调创科今明两年盈利预测1至2%，基于更务实的利润率扩张预测，将目标价由120港元上调至127港元。Techtronic Ind (00669) fell by over 3% again, dropping over 5% in the afternoon yesterday. As of the time of publication, it dropped by 3.27%, closing at 106.5 Hong Kong dollars, with a turnover of 0.231 billion Hong Kong dollars.
According to the Wisdom Financial APP, Techtronic Ind (00669) fell by over 3% again, dropping over 5% in the afternoon yesterday. As of the time of publication, it dropped by 3.27%, closing at 106.5 Hong Kong dollars, with a turnover of 0.231 billion Hong Kong dollars.
On the news front, the market is worried that Trump's election will lead to additional tariffs, putting pressure on export stocks like Techtronic Ind for two consecutive days. Nanhua Futures pointed out that after Trump's election, based on the information he released in his statements, he is highly likely to continue the 'America First' concept and implement protectionist trade policies, such as imposing tariffs. This will directly impact the profit-making ability and market share of Chinese export companies.
However, Daiwa Securities released a research report believing that the market's concerns about potential new tariffs may be excessive because Techtronic Ind has diversified global production layout. According to the bank's estimation, next year China's production capacity will only account for one-third of its overall capacity. They also believe the company has bargaining power, reiterating a 'buy' rating. Daiwa Securities downgraded Techtronic Ind's profit forecast for the next two years by 1-2%, based on a more conservative profit margin expansion forecast, raising the target price from 120 Hong Kong dollars to 127 Hong Kong dollars.
