Charlotte Yang
1 min read
In This Article:
(Bloomberg) -- Wall Street analysts are rushing to raise price targets on Pop Mart International Group Ltd. following the success of its Labubu dolls.
Most Read from Bloomberg
-
Trump’s Military Parade Has Washington Bracing for Tanks and Weaponry
-
NY Long Island Rail Service Resumes After Grand Central Fire
At least five brokerages, including Deutsche Bank AG and Morgan Stanley, have lifted projections on the Hong Kong-listed stock this week. Citigroup Inc. hiked its price target by 90% to a street high of HK$308 apiece, citing the growing influence of the company’s intellectual properties globally.
Pop Mart shares rose as much as 3.5% on Friday, extending their year-to-date climb to around 200%, before erasing those gains midday. Earlier this week, the stock touched a fresh record high.
The growing popularity of Pop Mart’s toothy monster dolls is boosting sales prospects for the firm. THE MONSTERS blind-box series, with Labubu at its center, generated more than 3 billion yuan in sales for Pop Mart last year, accounting for almost one-fourth of the company’s revenue.
Read: Tepid Flows Into China Gen Z ETFs Hint at Upside: Taking Stock
Pop Mart is trading above the 12-month average analyst price target tracked by Bloomberg and the rally has pushed shares to overbought territory. While valuations at 45 times forward earnings have topped that for peers like Sanrio Co. and Walt Disney Co., some analysts are optimistic that shares can continue to rise after tripling so far this year.
The stock is the best performer on the MSCI China Index this year after making it among the biggest gainers on the gauge in 2024.
(Updates share move in third paragraph)
Most Read from Bloomberg Businessweek
-
American Mid: Hampton Inn’s Good-Enough Formula for World Domination
-
US Tariffs Threaten to Derail Vietnam’s Historic Industrial Boom
-
As Companies Abandon Climate Pledges, Is There a Silver Lining?
©2025 Bloomberg L.P.
