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<Research>G Sachs Hikes SAMSONITE (01910.HK) TP to $22, Keeps Buy Rating
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SAMSONITE (01910.HK)'s management appeared more positive about the business outlook in the latest conference call compared to the August's call, Goldman Sachs mentioned in its report. The latest call suggested that the launch of new products in September and increased ads ahead of the peak season were expected to juice improved net sales growth in 4Q compared to 3Q. Based on Samsonite's 3Q results, the broker raised its adjusted net profit forecast for the company from 2025 to 2027 by 5-8%, and increased the target price from HKD20.9 to HKD22, maintaining a Buy rating. Goldman Sachs believed that Samsonite's potential dual listing in the US next year, along with share buybacks to mitigate dilution effects, will serve as catalysts for further re-rating of the stock. AASTOCKS Financial News Website: www.aastocks.com |
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