After rallying 290% this year to a new record high of HKD 335.40 on 26 August, $POP MART(09992)$ shares have pulled back 32.1% to its closing level of HKD 227.60 on Tues 28 October. Does this spell the end of Pop Mart’s incredible share price run this year? Or is it trading near a short-term support level? SGX Academy Trainer Binni Ong offers her view: *This post is sponsored by Macquarie Warrants Singapore. Binni’s view does not represent that of Macquarie’s Pop Mart is a leading designer toy company best known for its blind box products and popular character series such as Labubu. The stock has recently attracted attention after forming a head and shoulder pattern, a formation that typically suggests a potential trend reversal following an exte
Pop Mart on the Rise! Can It Hit $240 This Round?
Morgan Stanley has lowered Pop Mart’s target price by nearly 15%, from HK$382 to HK$325, to reflect unfavorable rotations in the global consumer sector. However, the bank notes that despite the near-term difficulty in resolving the market’s bullish-bearish divide, the current 2026 forecast P/E of 16x still offers an attractive entry point for a company with high returns on equity and deep roots in the “adult playfulness” consumption trend. Analysts said the valuation-compression phase for Pop Mart may be nearing a pause, as its P/E has returned to the low levels seen in Q4 2022 and Q4 2023.
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