Hong Kong-listed Samsonite climbs after posting strong quarterly results

Samsonite SA

14/11/2023 07:35

** Shares of Samsonite International SA  1910.HK  climb as
much as 4.4% to HK$25.05, on track for biggest one-day pct rise
since Aug 17, if gains hold
    ** Luggage manufacturer and distributor says its net profit
almost doubled from a year earlier to $115.4 mln in the three
months ended in September, while net sales up 21.1% at $957.7
mln  
    ** Citi maintains "buy" rating, saying 3Q23 net profit beat
on record-high margin as recovery in Asia accelerated and the
momentum is expected to be sustained in 4Q23E
    ** Jefferies maintains "buy" and lifts price target to
HK$35.30 from HK$33.20 after revising up earnings forecasts for
Samsonite
    ** Stock up 19% YTD 

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))