Macquarie released a research report sayinghouseoffunfreecoins2020, gave Chuangke Industrial (00669) a "Outperform" rating. It is expected that short-term stock price fluctuations and declines will bring investors opportunities to enter the market. It is expected that there will be no major changes in future operating and development strategies, with a target price of HK$111.
The report stated that Joseph Galli, the company's chief executive officer and executive director, had tendered his resignation and retired yesterday (20th). Steven Galli, senior president of its flagship business Milwaukee.
Richman took over, and the market fully recognized Galli's leadership over the past 18 years, so it was worried that investors might overreact to news of management changes in the short term, triggering stock price fluctuations.
The bank emphasized that Chuangke has a rich management team and has always implemented its development strategy. It believes that the group's talent pool is underestimated by the market, because in addition to product innovation capabilities, distribution strategy and execution, the main driving force for Chuangke's excellent performance among the industry is the development plan of its leadership. The group invests a large amount of money in talent training every year. It believes that the new CEO has many years of industry experience, and this internal promotion will help ensure the strategic development direction of Chuangke. Stability and continuity of customer relationships and corporate culture.
