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Memo for next week.
On November 11 (Monday), the holiday markets in the USA, France, and Canada are closed. Reserve Bank of New Zealand's fourth-quarter inflation expectations for the next two years: previous value 2.03%. Japan's October banks (including trusts) lending rate: previous value increased by 2.7%. Japan's September trade account: predicted deficit of 66.2 billion yen; previous deficit of 377.9 billion yen. Japan's September current account: predicted surplus of 3.4327 trillion yen; previous surplus of 3.8036 trillion yen. Japan's October economic observers' current situation index: predicted 47.1; previous value 47.8. Japan's October economic observers' future outlook index: predicted 49.2; previous value 49.7.
Credit rating of major bank | Lyon: Lower samsonite target price to 22 Hong Kong dollars, maintain 'outperform the market' rating
Stocklink Research on November 8th: Lyon stated in the research report that Samsonite will announce its third-quarter performance next Wednesday (the 13th). It is predicted that due to the weak performance in the asia and North America markets, the group's third-quarter sales are estimated to decline by 3% year-on-year at constant exchange rates. By brand division, it is expected that Samsonite's performance may continue to slightly outperform Tumi, while America Tourister faces the greatest pressure, with Tumi's higher profits and weakness in the Asia-Pacific region, coupled with potentially larger discounts from the group, dragging down the EBITDA profit margin to 17.5%. Looking ahead to the second half of the year,
Samsonite Commits to Science-based Climate Target to Maintain 100% Renewable Electricity in Own Operations and Significantly Reduce Value Chain Emissions by 2030
Haitong Securities fund holding positions analysis for the third quarter of 2024: Increase positions in consumer stocks, reduce positions in energy and materials.
24Q3 public offering funds have not made significant changes to their investment strategy in the Hong Kong stock market, they continue to reduce their holdings in high-dividend sectors, especially reducing positions in energy and materials with significant previous gains, while primarily increasing positions in internet and other optional consumer sectors, and also slightly increasing positions in the autos and manufacturing sectors.
HSBC: Maintains "shareholding" rating for samsonite (01910), lowers target price to HK$30.
Credit Suisse cuts samsonite's sales forecast for 2024-2026 by 6%, adjusted net profit forecast reduced by 11%, 9%, 11% respectively.
Dah Sing lowers the target price of Samsonite (01910.HK) to 30 yuan, downgrading sales and profit forecasts.
Morgan Stanley's report expects Samsonite (01910.HK) to experience a decrease of around 5% in third quarter sales and adjusted EBITDA, with China and India seen as the main factors dragging down the performance of the Asian market. As for North America, it is believed that the sales decline in the third quarter will be greater than in the second quarter, affected by macroeconomic weakness and an expected decrease in consumer spending during the election period. While the performance in the European market may be relatively better, sales growth is also seen to be slowing down. Morgan Stanley predicts that Samsonite's gross margin in the third quarter will decline both quarterly and annually, reflecting increased promotional activities. Additionally, the company may face challenges in operation.
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