SAMSONITE (01910) surged more than 3%, reaching HK$19.61 by the time of writing, with a trading volume of HK$95.4 million. Goldman Sachs noted in a research report that SAMSONITE's management appeared more optimistic about the business outlook compared to the August earnings call. The company expects improved net sales growth in Q4, driven by new product launches in September and increased advertising ahead of the peak season.

Goldman Sachs highlighted that SAMSONITE's stock has fluctuated within a range over the past three months. However, better-than-expected Q3 results and management's positive outlook should support short-term sentiment. The bank believes a potential US dual listing next year, along with share buybacks to mitigate dilution, could serve as catalysts for further revaluation.

UBS pointed out that SAMSONITE's revenue is regaining momentum, with US tariff impacts appearing milder than expected. The company's diversified leverage also helps cushion tariff pressures. UBS forecasts an 8% year-on-year increase in adjusted EBITDA for next year, supported by 5% revenue growth and operational leverage.

Daiwa raised its earnings per share forecasts for SAMSONITE by 7%–16% for 2025–2027, citing resilient gross margins from product mix improvements and slower marketing expense growth. With a potential new revenue upcycle and broader global investor exposure from a US listing, Daiwa sees a 13x forward P/E target as achievable next year.