Citi raises the target price of Pop Mart to HKD 308, with IP awareness continuously increasing.

On June 13, Jin10 data reported that Citigroup published a research report indicating that Pop Mart (09992.HK) has seen a continuous rise in the global recognition of its iconic IP and has successfully launched new products. The bank believes that Pop Mart's diversified IP strategy should lay a foundation for its long-term sustainable growth. The launch of new products may also become a short-term catalyst, and the bank has raised the group's earnings forecast for 2025 to 2027 by 38 to 49%. It is expected that the group's net profit will grow by 124% and 40% year-on-year in the next two years, reiterating the group's buy rating and significantly raising the target price from 162 HKD to 308 HKD.