Citigroup has released a research report indicating that due to the impact of the Middle East conflict on travel demand, the company expects Samsonite to experience a weak revenue growth momentum in the second quarter. It forecasts a 0.6% year-on-year decline in revenue on a constant currency basis, while adjusted net profit is projected to fall by 29% year-on-year.

The bank has lowered its target price for the company from HKD 16.8 to HKD 16, while reiterating a "Buy" rating. Citigroup notes that the company's current valuation is attractive, and a potential dual listing in the United States could serve as a catalyst for its valuation re-rating.

The bank believes that Samsonite's guidance for low single-digit revenue growth on a constant currency basis for fiscal year 2026 remains challenging. Due to the expectation of ongoing profit pressure over the next few quarters, it has revised its constant currency revenue growth forecast for fiscal year 2026 down from 0.8% to 0.3% and has also reduced its earnings estimates for fiscal years 2026 to 2028 by 5% to 6%.