Goldman Sachs Raises SAMSONITE (01910) Target Price to HK$22, Maintains "Buy" Rating

Stock News11-18

Goldman Sachs issued a research report stating that based on SAMSONITE's (01910) Q3 performance, it has raised its adjusted net profit forecast for the company from 2023 to 2027 by 5% to 8%. The target price was increased from HK$20.9 to HK$22, with a "Buy" rating maintained.

The report noted that SAMSONITE's stock price has fluctuated within a range over the past three months. However, the better-than-expected Q3 results and management's positive outlook on business prospects should support short-term sentiment. Compared to the August earnings call, SAMSONITE's management appeared more optimistic in the latest conference call, expecting improved Q4 net sales growth driven by new product launches in September and increased advertising ahead of the peak season.

Goldman Sachs believes that SAMSONITE's potential dual listing in the U.S. next year, along with share buybacks to mitigate dilution effects, could serve as catalysts for further valuation upside.

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