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RTNominal down7.800 -0.040 (-0.510%)
Research Report

09/09/2020 17:55

Guotai Junan downgrades Samsonite (01910) to HK$8.6

[ET Net News Agency, 9 September 2020] Guotai Junan International cut its target price
for Samsonite (01910) to HK$8.6 from HK$9.1 and downgraded its rating to "neutral" from
"buy" rating.
The research house said Samsonite's 1H results missed expectations. Guotai Junan revised
its 2020-22 EPS forecasts by +9.2%, -49.5% and -29.8% to -US$0.792, US$0.037 and US$0.073,
respectively, representing a CAGR of -7.4% during 2019-2022.
It said Samsonite's revenue decline showed a slightly improving trend from -80.9% in
April to -69.8% in July, and the trend continued in August. However, the company's
business conditions are expected to remain difficult during 2H.
Guotai Junan expects Samsonite's revenue to recover in 2021, alongside improvement in
profitability. It forecast the 2021 and 2022 net margin to be 1.8% and 3.4%, respectively.

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