Bank of America Securities released a research report sayingcasinomeganodepositbonusIt is estimated that Samsonite's (01910) growth this year may be concentrated in the second half of the year. It reiterated its "buy" rating, lowered its earnings per share forecast by 5% this year and next, and lowered its target price from HK$36 to HK$35.

The report stated that the company's first-quarter revenue and adjusted EBITDA increased by 1% and 3% respectively year-on-year, lower than expected, mainly due to the high base in the first quarter of last year and the impact of unfavorable foreign exchange changes. The company lowered its full-year sales growth guidance from the original forecast of 10% to 12% to a high single digit.

The bank expects Samsonite to re-establish good growth momentum starting in the next quarter, mainly due to increased advertising efforts, growth in the Asian market led by China/Japan, and the number of tourists to Europe during the summer.