该行表示，鉴于家得宝是创科最大客户，预计创科第三季势头良好。不过当前股价受地缘政治因素拖累。该行认为这是一个很好的买入机会。创科也是该行的中国工业股首选之一。该行更偏好创科而非泉峰控股(02285)。Techtronic Ind is also one of Citigroup's preferred industrial stocks in China. The bank prefers Techtronic Ind over Quanfeng Holdings (02285).
According to the Financial Intelligence APP, Citigroup released a research report stating that they maintain a "buy" rating on Techtronic Ind (00669) with a target price of 140 Hong Kong dollars.
The company's main customer Home Depot's performance for the third quarter of the 2024 fiscal year reflects a decrease of 1.3% in same-store sales (SSSG), better than the market's expected decrease of 2-2.5%, and also better than the 3.3% decrease in the second quarter. Home Depot raised its sales guidance for the 2024 fiscal year to a decrease of 2.5%, previously guided for a decrease of 3-4%. SSSG performed better than expected, benefiting from normalizing weather, seasonal commodities, outdoor projects, and increased demand for hurricane-related products.
The bank stated that given Home Depot is Techtronic Ind's largest customer, they expect Techtronic Ind to have a strong momentum in the third quarter. However, the current stock price is being dragged down by geopolitical factors. The bank sees this as a great buying opportunity. Techtronic Ind is also one of the bank's preferred industrial stocks in China. The bank prefers Techtronic Ind over Quanfeng Holdings (02285).
