UBS: Raises Samsonite (01910.HK) target price to HK$21.4, maintains "Buy" rating.

Zhitong Finance APP has learned that UBS issued a research report stating that it has raised the target price of Samsonite (01910.HK) from HK$20 to HK$21.4, maintaining a "Buy" rating. It expects third-quarter revenue to be slightly better than management's guidance of a 1.7% year-on-year decline, mainly due to improved global air passenger demand since the second quarter. It now expects third-quarter revenue in constant currency terms to narrow its decline to 0.9%, with gross margin excluding tariff refunds roughly stable quarter-on-quarter at 60%; adjusted EBITDA to fall 14% year-on-year to US$123 million, implying an EBITDA margin of 14.3%.