Stock Track | MINISO Group Holding Soars 14.99% in Pre-Market on Strong Earnings Outlook

Stock Track12-03

MINISO Group Holding Limited (MNSO) witnessed a remarkable pre-market surge of 14.99% on Monday, driven by positive analyst sentiments and the company's upbeat earnings guidance.

Despite a weaker-than-expected third-quarter performance, Nomura analysts remain optimistic about MINISO's earnings growth prospects. The Chinese retailer reiterated its full-year 2024 guidance, forecasting revenue growth of 20%-30% and an adjusted net profit of 2.8 billion yuan ($392 million).

Analysts at Nomura raised their target price on MINISO's American Depositary Receipts (ADRs) to $26.30 from $25.60, maintaining a "buy" rating. They believe the company could gradually evolve into an attractive business model deserving a valuation premium, given its positive outlook for overseas operations and faster revenue and earnings growth anticipated in 2025.

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