Citi has issued a research report reaffirming its "Buy" rating on Techtronic Industries (00669) with a target price of HK$168. Management projects that order visibility for AI data center (AIDC) projects in the United States and the European Union could extend for five to seven years. As a result, the firm continues to place Techtronic Industries at the top of its preferred list among Chinese industrial stocks.

The report references that Techtronic Industries' management attended Citi's GEM conference in New York on the 9th and 10th of this month. According to Citi's key observations: first, benefiting from a lower comparison base and stronger point-of-sale demand in the second half of this year, revenue growth in the second half of 2026 is expected to accelerate compared to the first half. Second, U.S. tariff refunds will be recorded in the second half of 2026, which should further strengthen the balance sheet's net cash position. The firm anticipates this will support the continuity of the company's share buyback program following its expiration at the end of 2027. Third, the company remains a leader in key verticals such as AI data centers and electric utilities, with stronger growth drivers.