Citi Cuts SAMSONITE TP to HKD16.8; 1Q Adjusted Net Profit Misses
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Citi has lowered its target price for SAMSONITEfrom HKD18 to HKD16.8 after the company reported a 29% YoY decline in adjusted net profit for Q1, missing forecasts. Revenue grew 0.5% YoY, aligning with expectations. Management anticipates low single-digit revenue growth for the year, with similar trends expected in Q2. Despite challenges from weak global travel demand, Citi maintains a Buy rating, citing potential for a dual listing in the US as a valuation catalyst.
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