HK Stock Market Move | SAMSONITE (01910) rose more than 3% as the company's business outlook is optimistic. The potential dual listing in the US next year is expected to be a catalyst for value reassessment.

SAMSONITE (01910) rose over 3%, rising by 3.48% as of the time of writing, reaching 19.61 Hong Kong dollars, with a trading volume of 95.4036 million Hong Kong dollars. Goldman Sachs released a research report stating that compared to the August performance conference call, the latest conference call from SAMSONITE management appears more optimistic about the business outlook. With the expectation of new products launched in September and increased advertising activities before the peak season, the net sales growth in the fourth quarter is expected to improve compared to the third quarter. Goldman Sachs pointed out that SAMSONITE's stock price has declined in the past three months, and believes that the better-than-expected third-quarter performance, as well as the positive outlook of the management on the business, should benefit the short-term stock price sentiment. The bank believes that SAMSONITE's potential dual listing in the United States next year and share buybacks to reduce dilution effects will be catalysts for further reevaluation of the stock's value in the future. UBS pointed out that SAMSONITE's revenue is regaining momentum, the impact of U.S. tariffs seems to be milder than expected, and the company has multiple leverage to mitigate the impact of tariffs. The bank expects the company's adjusted EBITDA to resume growth next year, increasing by 8% annually, benefiting from a 5% revenue growth and operating leverage. In addition, Nomura raised its earnings per share forecast for SAMSONITE in 2025-2027 by 7% to 16%, based on changes in product mix leading to stronger gross margins, as well as slow market spending increases. With the potential for a new revenue growth cycle and more global investors due to a potential U.S. listing, the bank believes that the target price of 13 times forecasted earnings per share next year is a realistic and achievable target.