Jefferies: Raises SAMSONITE (01910) target price to HK$19.9, maintains "Buy" rating.

Jefferies released a research report raising the target price of SAMSONITE (01910) from HK$19.6 to HK$19.9, maintaining a "Buy" rating. The bank raised its net profit forecasts for 2027-2028 by 3% to reflect the impact of the BIS acquisition, and also raised its sales forecast by 6%, but this was partially offset by lower core business expectations. Looking ahead to the third quarter, the bank expects the company's sales to be US$869 million, flat year-on-year at constant exchange rates and down 0.5% in US dollar terms; adjusted EBITDA is expected to be US$124 million, down 13% year-on-year. The bank now expects the company's full-year net profit to be US$237 million, with next year's net profit forecast at US$284 million.