According to the research report released by Nomura, it rates Techtronic Ind (00669) as "buy" and believes that its business is global and is not affected by geopolitical risks. Its target price has been lowered from HKD 103 to HKD 110.

The company's mid-term net profit rose by 15.7% to USD 0.55 billion, which meets market expectations. The bank believes that Techtronic's revenue in the first half of the year has increased by 6.3% year-on-year to USD 7.3 billion, which is 5.3% higher than market expectations. This is mainly due to the steady growth of sales in the Milwaukee business calculated in local currencies, which increased by 11.2%. The bank predicts that the company's revenue in the second half of the year can achieve moderate growth, and its long-term growth trajectory remains unchanged.

Looking forward to the second half of the year, the bank expects Techtronic Ind's revenue to increase by 6.3% year-on-year and net profit to increase by 15.2% in the context of macroeconomic weakness in US existing home sales. Seasonally, the bank expects strong demand for electric and manual tools in the company's third quarter.