M Stanley Increases Price Target for POP MART (09992.HK) to $382, Maintains Overweight Rating

The analyst rating from Citi Research is maintained at "Buy" due to expectations of breakthroughs in IP diversification, product innovation, and cross-sector monetization that are anticipated to support continued growth for POP MART beyond the LABUBU craze. Despite concerns about sustaining long-term growth if the LABUBU novelty fades, the broker remains optimistic about the company's future prospects, setting a target price of $415.

Morgan Stanley's analyst rating for POP MART (09992.HK) is based on the expectation that the company's sales growth will be more resilient in the US, with overall sales performance anticipated to exceed market expectations. The broker believes that by 2026, the market focus may shift from the US market and Labubu products to the Group's overall development momentum. As a result, Morgan Stanley reaffirmed POP MART as its top pick, assigning a target price of $325 and an Overweight rating.

The analyst rating for Pop Mart (09992.HK) is a Buy, based on several factors outlined in the BofA Securities' research report. The reasons for this rating include: 1. Long-term Growth Potential: The broker has a positive view on Pop Mart's long-term growth and its intellectual property (IP) ecosystem, which is seen as a key factor for the company's success. 2. Potential Catalysts: There are several potential catalysts that could positively impact the stock, such as the anticipated robust annual results to be announced in March, historically positive performance guidance from the company, and the potential release of Labubu 4.0. 3. Top Pick Status: The broker considers Pop Mart to be one of its top picks for China's consumer stocks this year, indicating strong confidence in the company's prospects. Despite these positive factors, the report acknowledges short-term challenges related to market debates on valuation, sentiment, and flows, which led to a 25% reduction in the target price to HKD300 while maintaining the Buy rating.