Jefferies has revised its short-term sales growth forecast for Samsonite (01910) due to the ongoing Middle East conflict, lowering its net profit estimates for 2026 and 2027 by 5% and 3%, respectively. The firm maintains a "Buy" rating on the stock but has slightly reduced the target price from HK$23.24 to HK$22.33. In the fourth quarter of last year, Samsonite's adjusted EBITDA exceeded Jefferies' expectations by 11%, while sales performance aligned with projections. Management anticipates first-quarter sales for this year to remain flat on a constant currency basis, influenced by the Middle East situation. Although growth in January and February was robust, business activity slowed in March. The company remains optimistic about achieving full-year sales growth but has not provided specific guidance.