MINISO Group Holding Limited (MNSO) saw its stock price soar by 5.17% intraday on Monday, with strong buying interest pushing the shares higher.
The surge in MINISO's stock price followed analyst actions from DBS Bank and Nomura, which boosted investor sentiment towards the Chinese retailer. DBS Bank upgraded its rating on MINISO to "buy" with a price target of $26.20, while Nomura raised its price target to $26.30 from $25.60, maintaining a "buy" rating.
The positive analyst actions reflect optimism surrounding MINISO's growth prospects and potential for further share price appreciation. The company's strong trading volume, which stood at around 3.8 million shares compared to a daily average of 3 million, also contributed to the stock's impressive intraday performance.
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