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<Research>UBS: POP MART (09992.HK) Price Correction Entails Buying Opportunity
Recommend 37 Positive 66 Negative 46 |
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UBS report covered POP MART (09992.HK), which has seen its stock price slump by approximately 19% from recent highs. The broker attributed this mainly to three factors: profit-taking after its inclusion in the HSI; a softening of prices in the secondary market for some products; and a decline in global search trends on Google. Notably, UBS observed similar trends in the past, but such changes have not altered its optimistic outlook on Pop Mart's fundamentals. In UBS view, the current price correction in Pop Mart's stock is creating a buying opportunity in anticipation of short-term catalysts, including the launch of new Halloween products and the 15th-anniversary series, as well as the crucial Christmas sales season. The broker reiterated its Buy rating on POP MART with a target price of HKD432. AASTOCKS Financial News Website: www.aastocks.com |
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