＜Research＞JPM: SWK, Makita Quarterly Earnings Beat Indicate Widening Demand Recovery; Rating Overweight Kept on TECHTRONIC IND

　　Stanley Black and Decker (SWK.US) 's 2Q24 results and Makita's 1FQ25 results beat estimations, bringing positive impact to TECHTRONIC IND (00669.HK) +3.650 (+3.810%) Short selling $79.00M; Ratio 23.806% , JPMorgan released a research report saying.

　　JPMorgan believed that the better-than-expected quarterly earnings of SWK and Makita indicated a wider demand recovery. TECHTRONIC IND will disclose its 1H24 results on 6 August, and JPMorgan expected its earnings to grow 15% YoY, broadly in line with market consensus.

　　JPMorgan was also optimistic that the Company's strong free cash flow and healthy balance sheet will support continued investment in future heavy-duty/ cordless/ AI-powered products. Therefore, JPMorgan kept rating at Overweight on TECHTRONIC IND, with a target price of $126.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-30 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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