Glonghui, March 15 | UBS released a report stating that in view of Samsonite's strong sales momentum in Asia from the beginning of the year to date, the bank is encouraged to improve its sales guidelines. Management is optimistic about revenue prospects and slightly raised this year's sales guidance to a 10% to 12% increase; the adjusted EBITDA margin is expected to increase by 20 to 30 basis points this year, while higher marketing expenses (which guide 7% of net sales) are offset by operating leverage. Management also expects to open about 50 to 60 new stores this year, and the number of self-operated stores will increase by 5% to 6% year-on-year, which will help increase sales this year. The bank slightly raised Samsonite's adjusted EBITDA forecast by 1% to 2%. The company's adjusted EBITDA profit margin is expected to be between 19.7% and 19.8% this year and next two years. The target price for the company increased slightly from HK$34.5 to HK$35, with a “buy” rating.