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<Research>HSBC Research Elevates POP MART (09992.HK) TP to $331.5, Keeps Rating at Buy
POP MART (09992.HK)'s Labubu, which recently entered overseas markets in June, has seen a surge in Google search index, HSBC Global Research issued a research report saying. Fo...
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<Research>HSBC Research Elevates POP MART (09992.HK) TP to $331.5, Keeps Rating at Buy
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POP MART (09992.HK)  +3.600 (+1.442%)    Short selling $141.05M; Ratio 10.426%   's Labubu, which recently entered overseas markets in June, has seen a surge in Google search index, HSBC Global Research issued a research report saying. Following the pattern in Asia-Pacific markets, the launch of new series and other IPs may continue to attract consumer interest.

Based on the strong product momentum, the broker further raised its 2025 overseas revenue forecast for POP MART by 34% to RMB14.325 billion, which is expected to grow by 183% YoY, expanding its share of the Group's revenue to 51% this year, compared to 39% in 2024.

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Due to the upgraded forecasts, HSBC Global Research kept rating at Buy for POP MART, and elevated its target price from $215.5 to $331.5, implying projected PE ratios of 39.8x/ 31.4x for 2026/ 2027.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-04 12:25.)

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