(Corrects date of earnings to March 19, instead of March 18)
March 9 (Reuters) - Shares in Samsonite International SA could rise 20 percent to 30 percent in the next year as people from China and other Asian countries take more trips abroad, and perhaps spend more on luggage, Barron's said in its March 10 edition, citing analysts.
The Hong Kong-listed company's stock rose 18 percent last year, six times the market's gain, but still trade at just 16.9 times projected 2014 profit, below the 20 multiple for rival Tumi Holdings Inc, the newspaper said.
Samsonite reemerged as a public company in 2011, with business operations in Hong Kong and an office in Luxembourg.
While known for its American Tourister brand, the 104-year-old company gets 40 percent of its roughly $2 billion of annual revenue in Asia, according to the newspaper.
That could position it to benefit from increases in personal wealth, longer vacation periods and more-relaxed visa restrictions, the newspaper said.
Longer-term trends may also favor the company. Chinese citizens, only 3.5 percent of whom now have passports, are expected to double their trips abroad to 200 million by 2019, and Asia is expected to account for half of global air traffic by 2030, the newspaper said.
Samsonite is expected to post full-year 2013 results on March 19, and analysts on average expect profit of 16 cents per share on revenue of $2.08 billion, up more than 17 percent, the newspaper said.
The company's other brands include the mid-priced Samsonite brand, the high-end Hartmann, and High Sierra.
Shares closed last week at HK$21.05. (Reporting by Jonathan Stempel in New York; Editing by Rosalind Russell)