Zhi Tong Cai Jing·2025-08-08 07:24Core Viewpoint - Morgan Stanley's report indicates that despite tariff and macroeconomic uncertainties, Techtronic Industries (00669) demonstrates growth resilience through vertical application expansion, channel cooperation enhancement, and capacity diversification, thus maintaining an "overweight" rating [1] Group 1: Financial Forecasts - Due to changes in tariff policies leading to supply chain restructuring, revenue growth is expected to slow in the second half of the year [1] - Morgan Stanley has revised Techtronic's sales forecasts for 2025, 2026, and 2027 down by 2%, 3%, and 4% respectively [1] - The annual profit forecast has been adjusted down by 6%, 8%, and 9% to reflect the uncertain outlook [1] Group 2: Target Price Adjustment - The target price for Techtronic has been reduced from HKD 124 to HKD 115 [1]