0338 GMT - Pop Mart may need new catalysts to drive the share price higher, Deutsche Bank Research analyst Sammy Xu says in a research note. The perceived popularity of its Labubu character has weakened from its peak, Xu says. This decline is reflected in a reduction in price premiums for popular Labubu editions and mixed reviews on social media, which could affect future sales, Xu says. The bank adopts a "cautious stance" until new growth drivers emerge, which may include new blockbuster IPs or product types. Deutsche Bank has a hold rating on Pop Mart with a target price of HK$228.00. Shares last trade at HK$218.60. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
November 30, 2025 22:38 ET (03:38 GMT)
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