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<Research>Macquarie Maintains POP MART's Outperform Rating; Recent Shr Price Correction Seen as Mkt Overreaction
Recommend 8 Positive 22 Negative 6 |
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Macquarie published a research report covering POP MART (09992.HK), which had recently launched the well-received Valentine's Day limited edition blind box series, "Twinkle Twinkle - Crush on You", with the first batch selling out swiftly. The report noted that Pop Mart operates a diversified product and IP portfolio, enabling continuous consumer interaction through product development. The broker expected that the revenue contribution from its top 2-6 IPs will increase from 43% in 2025 to 48.6% in 2026. Macquarie also believed that the recent share-price correction from concerns on US moderation is overdone. It suggested that timely stock buybacks after a sharp price correction could instil investor confidence. Macquarie was optimistic about Pop Mart's capacity expansion supporting sales growth, thus maintaining its earnings forecast and Outperform rating, with a target price of HKD470. AASTOCKS Financial News Website: www.aastocks.com |
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