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<Research>M Stanley Expects POP MART (09992.HK) Overseas Mkt Growth to Slow This Yr, Trims TP to HKD278
Recommend 4 Positive 5 Negative 12 |
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POP MART (09992.HK)'s 4Q25 sales and its 2026 growth guidance undermined market confidence, Morgan Stanley said in a research report. Correspondingly, the broker lowered its earnings forecast for the group by about 4% for 2026 and 2027, and anticipated that overseas market growth will slacken in 2026. However, it viewed that the growth model driven by offline stores remains effective. Morgan Stanley reduced its sales forecast for the group by 4-5% for 2026 and 2027, and its net profit forecast by about 4%. It predicted that the sales for 2026 will be RMB45.9 billion, representing a YoY growth of 24%, and the non-IFRS net profit will be RMB15.1 billion, a YoY rise of 16%. The broker reduced the target price from HKD325 to HKD278, while maintaining an Overweight rating. AASTOCKS Financial News Website: www.aastocks.com |
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