According to a research report from UBS, the recent ruling by the U.S. Supreme Court on tariff legality and subsequent tariff adjustments are expected to reduce the tariff rate faced by SAMSONITE (01910) by a low to mid-single-digit percentage over the next five months. UBS anticipates that Samsonite's U.S. wholesale customers may utilize this window to replenish inventory amid strong travel demand, thereby driving the group's revenue recovery in the U.S. market. The bank has set a target price of HK$24.8 for the stock with a 'Buy' rating. UBS noted that it has received numerous investor inquiries regarding the underlying reasons for Samsonite's weak share price performance, which has declined by 6% since the announcement of its U.S. dual listing progress in mid-February. Based on investor feedback, UBS suggests that the stock weakness may be attributed to concerns over a discount of up to 15% on the issuance price and potential share dilution. The bank believes these concerns have overshadowed the potential for valuation revaluation that could align Samsonite with global peers following its U.S. listing. Additionally, UBS observed relatively positive signals from the recent earnings reports of global airlines, online travel agencies, hotels, and luxury goods companies, which may serve as indicators for Samsonite's revenue trends. Over the past seven quarters, Samsonite's revenue trends have shown a high correlation with those of LVMH.