Samsonite rises most in 7 weeks after results, UBS lifts price

Samsonite SA

14/11/2024 03:52

** Shares of luggage maker Samsonite International SA
 1910.HK  rise 6.6% to HK$19.14, on course for the biggest
one-day pct gain since Sept 26
    ** Stock hit the highest since Oct. 29
    ** Samsonite posts Q3 net income of $71.5 mln with Q3 sales
at $877.7 mln and says co plans to continue share buybacks
through remainder 2024 and into 2025
    ** UBS maintains "buy" rating on the stock and lifts price
target to HK$28 from HK$27.9, saying inflection points might be
in sight with improving trend in Q424E 
    ** "We expect moderate positive share price reaction post
results" - UBS  
    ** Jefferies keeps "buy" rating given the inexpensive
valuation and says recovery trend has been encouraging but it
trims price target to HK$27.23 from HK$28.59 to reflect 3Q24's
miss and still cautious 2025/26 outlook
    ** Hang Seng Commerce & Industry Index  .HSNC  declines
0.8%, Hang Seng Consumption Index  .HSCGSI  slips 0.3% and Hang
Seng Index  .HSI  eases 0.6%
    ** Stock down 26.7% YTD  

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