CITIC Securities International: Raises POP MART's net profit forecast and maintains "Buy" rating
CITIC Securities International released a research report stating that POP MART's financial data for the third quarter performed impressively, with overall revenue soaring 245% year-on-year to 250%, thanks to strong performance in both domestic and international markets. The sales performance highlights the effective execution of the company's localization growth strategy, with international expansion and multi-channel layout (including online, offline, and collaboration with Books-A-Million) becoming key catalysts. CITIC Securities International stated that POP MART remains its industry preferred target, maintaining an "Overweight" rating, while also recommending Atour Group and MAO GEPING, both rated "Overweight." CITIC Securities International raised its sales and net profit forecasts for POP MART for 2025 by 16% and 13%, respectively, to reflect the strong data performance in the third quarter. After adjusting the profit forecast, based on a 21 times price-to-earnings ratio valuation at the end of 2026, a target price of HKD 380 is derived, which is still one standard deviation above the average valuation since 2025
Zhitong Finance APP learned that China Merchants Securities International released a research report stating that POP MART (09992) showed impressive financial data in the third quarter, with overall revenue surging 245% year-on-year to 250%, thanks to strong performance in domestic and international markets. The sales performance highlights the effective execution of the company's localization growth strategy, with international expansion and multi-channel layout (including online, offline, and collaboration with Books-A-Million) becoming key catalysts. China Merchants Securities International stated that POP MART remains its industry preferred target, maintaining an "Overweight" rating, while also recommending Atour Group (ATAT.US) and MAO GEPING (01318), both rated as "Overweight."
China Merchants Securities International raised its sales and net profit forecasts for POP MART for 2025 by 16% and 13%, respectively, to reflect the strong data performance in the third quarter. After adjusting the profit forecast, based on a 21 times price-to-earnings ratio valuation at the end of 2026, a target price of HKD 380 is derived, which is still one standard deviation above the average valuation since 2025
