HK Stock Market Move | TECHTRONIC IND (00669) rose over 4%; JP Morgan expects Milwaukee's revenue growth to accelerate again, benefiting large brand suppliers in the industry consolidation.

TECHTRONIC IND (00669) rose more than 4%, up 4.16% to HK$102.6 as of the time of writing with a trading volume of HK$243 million. JP Morgan released a research report stating that TECHTRONIC IND is one of the bank's top stock picks for 2026, believing that the power tools industry is entering a growth trajectory again. Factors driving this include the normalization of supply chain and inventory adjustments, a more favorable interest rate cycle, and the company's own catalysts. The bank stated that with the market refocusing on the industry's growth potential, the sector is expected to outperform the broader market for the remainder of the year. JP Morgan anticipates that revenue growth for the Milwaukee brand of TECHTRONIC IND will accelerate again due to the rapid expansion of the total addressable market (TAM). Additionally, after exiting the HART brand at Walmart, the company will refocus on its consumer business, especially the Ryobi brand at The Home Depot. After discussions with industry leaders, the bank confirmed that the industry's destocking cycle is nearing completion, pricing power remains strong, industry consolidation is accelerating, and large brand suppliers are benefiting. Furthermore, the impact of supply chain shifts on the industry has mostly passed, and there is a clear recovery in demand for professional and DIY products.