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<Research>Citi Elevates POP MART (09992.HK) TP to $398; Rating Buy
Recommend 14 Positive 19 Negative 14 |
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Citi Research issued a research report believing that POP MART (09992.HK) will continue its robust growth momentum in 2H25 and beyond, supported by its strong capabilities in IP incubation and operation, as well as overseas expansion. With the debut of the mini LABUBU this week, Citi Research anticipated the company to further drive the global IP craze. In the long term, the broker believed that the commercial value of this world-class IP has the potential to extend beyond pop toys into a wide range of fields. Based on POP MART management's latest 2025 forecast (expecting a revenue exceeding RMB30 billion and a net profit margin of 35%), Citi Research slightly adjusted its earnings forecasts, and kept rating at Buy' for the stock. The broker elevated its target price from $384.5 to $398, based on a projected 2026 PE ratio of 31x, a 10% premium over the Company's 4-year historical average, reflecting the Company's improving growth prospects and execution, implying a PE growth rate for 2025-2027 of 1x or 0.86x for 2026. AASTOCKS Financial News Website: www.aastocks.com |
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