富瑞：升新秀丽(01910)目标价至23.24港元 维持“买入”评级

Core Viewpoint - The report from Jefferies anticipates that Samsonite (01910) will announce a net profit of $117 million for Q4 2025, representing a 9% year-over-year decrease, with a profit margin of 18.5% and a sales growth of 1.4% [1] Group 1 - The company is expected to release its 2025 performance results in mid-March, with investors focusing on three key areas: management's outlook for 2026 sales and profit margins, the timeline for its U.S. listing, and the timing and scale of share buybacks [1] - Jefferies has raised the target price for Samsonite from HKD 22 to HKD 23.24, maintaining a "Buy" rating based on a more optimistic mid-term outlook [1]