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Research Report

15/06/2020 15:41

{I-bank focus}Morgan raises Samsonite (01910) to HK$13.8

[ET Net News Agency, 15 June 2020] Morgan Stanley raised its target price for Samsonite
International (01910) to HK$13.8 from HK$7.8 and upgraded its rating to "overweight" from
The research house said global re-openings will gradually move from domestic communities
to traveling in the next few months. Morgan anticipates a series of encouraging
developments in the travel industry globally in the coming months.
China's market, where investors are looking for a trajectory of recovery, has shown
steady improvement in rail and air traffic. Morgan expects Samsonite to provide a positive
update for sales in China for July-August.
Morgan expects EBITDA to trough in 2Q 2020 and turn positive in 2Q 2021. It estimated
US$670mn cash burn this year and expects financial covenants to be met for 3Q 2021. (KL)

Remark: Real time quote last updated: 30/10/2020 17:59
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