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<Research>BofAS Axes POP MART (09992.HK) TP by 25% to $300, Continues to List as CN Top Consumer Stock
Recommend 9 Positive 12 Negative 6 |
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POP MART (09992.HK) has stumbled approximately 43% since its peak in August, given the debate on 2026 after 10x+ earnings growth in recent two years, BofA Securities' research report indicated. The broker believed that Pop Mart's long-term success hinges on its IP ecosystem and platform. While the broker holds a positive view on Pop Mart's long-term growth and moats, it cannot completely dismiss the short-term impacts brought by market debates on valuation, sentiment, and flows. Therefore, it maintained the forecast on the group's EPS but axed the target price by 25% to HKD300, reaffirming a Buy rating. The broker saw numerous potential catalysts, including the robust annual results possibly announced in March, the company's historically positive performance guidance, and the potential release of Labubu 4.0. It also stated that the group remains one of its top picks for China's consumer stocks this year. AASTOCKS Financial News Website: www.aastocks.com |
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