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SAMSONITE Last Stumbles ~13%; Brokers Cut TPs after Quarterly Results Ann
SAMSONITE (01910.HK) opened 9.53% lower today (16th), and bottomed at $24.75 in the early session, a new low since the end of February 2024. The stock last printed at $25.15, reced...
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SAMSONITE Last Stumbles ~13%; Brokers Cut TPs after Quarterly Results Ann
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4
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10
 
SHORT SELL
 
STOCK INFO

SAMSONITE (01910.HK)  -0.300 (-1.253%)    Short selling $8.43M; Ratio 26.685%   opened 9.53% lower today (16th), and bottomed at $24.75 in the early session, a new low since the end of February 2024. The stock last printed at $25.15, receding 12.82%, with 9.7207 million shares traded, involving $249 million.

The Company's profit for the first quarter ended March 2024 was US$82.9 million, up 12.33% YoY, while net sales were US$860 million, up 0.88%.

Jefferies said that the Company's 1Q24 sales in Asia and Europe missed its expectations, and lowered its 2024-2026 earnings forecasts. Therefore, Jefferies cut its target price target to $34.4 from $36.3.

In addition, CLSA said that its 1Q24 sales slightly missed expectations, and trimmed its target price from $36 to $33. CLSA also downgraded SAMSONITE from Buy to Outperform.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-17 12:25.)

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