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Morgan Stanley: Raises the target price for Bubble Mart to HKD 302, the scale-up pace of IP exceeds expectations.
Jin10 data, June 27 - Morgan Stanley released a research report stating that it has raised its earnings per share forecasts for Pop Mart (09992.HK) by 6%, 15%, and 21% for 2025, 2026, and 2027 respectively, to reflect the company's clearer growth path in North America and Europe. For 2025, the most optimistic earnings expectations in the industry still significantly exceed the bank's adjusted forecasts. The bank believes that Pop Mart's combination of a rich and diverse IP matrix with operational skills is expected to create sustained growth, and the current stock price does not reflect the potential for longer-term scale.