Goldman Sachs raises Samsonite's target price to 22 yuan and maintains a "Buy" rating

AASTOCKS
2025.11.17 07:05

Goldman Sachs report indicates that the management of Samsonite (01910.HK) appears more optimistic about the business outlook in the latest conference call compared to the August earnings call. They expect that the new products launched in September and increased advertising activities before the peak season will drive an improvement in net sales growth in the fourth quarter compared to the third quarter.

Based on Samsonite's third-quarter performance, the bank has raised its adjusted net profit forecast for the company from this year to 2027 by 5% to 8%, increasing the target price from HKD 20.9 to HKD 22, while maintaining a "Buy" rating. The bank noted that Samsonite's stock price has fluctuated over the past three months, and they believe that the better-than-expected third-quarter results, along with the management's positive outlook on the business, should benefit short-term stock price sentiment.

Goldman Sachs believes that Samsonite's potential dual listing in the United States next year, along with share buybacks to mitigate dilution effects, will serve as catalysts for further value reassessment of the stock in the future

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