0639 GMT - Samsonite's shares seem too cheap to ignore despite the company's uncertain prospects due to the Middle East conflict, says Morningstar's Ivan Su in a note. The ongoing conflict is expected to leave the luggage maker's total sales roughly flat on year, the analyst notes. While the near-term hit to earnings is limited due to the company's five to six months of inventory, a prolonged conflict could expose Samsonite to higher oil-driven sourcing costs, they add. Still, shares are currently trading at 10X its estimated 2026 earnings and the company is committing to a 45% dividend payout ratio, he says. The stock is therefore a bargain at its current levels. Morningstar retains its HK$24.00 fair-value estimate on Samsonite, which is down 3.85% at HK$14.625. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

March 23, 2026 02:39 ET (06:39 GMT)

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