Bank of America Securities: Lowering Samsonite (01910) Target Price to HK$20 to Reiterate “Buy” Rating

The Zhitong Finance App learned that Bank of America Securities released a research report saying that Samsonite (01910) is affected by consumer sentiment in major markets where inflationary pressure continues to hit major markets. After excluding exchange rate effects in the second quarter, sales, adjusted EBITDA and net profit after tax will drop 1%, 20%, and 25% year-on-year respectively. The target price was lowered from HK$22 to HK$20, confirming the “buy” rating.

The bank lowered the company's 2026-2027 adjusted net profit forecast to US$250 million and US$280 million respectively, to reflect lower sales and profit margin expectations. However, it believes that the brand has a leading position in related product categories and is also attractive. It believes that falling oil prices can slightly ease the pressure on household budgets. As demand gradually recovers, group sales will resume positive growth in the second half of 2026.