Pop Mart's Valuation Looks Undemanding After Price Correction -- Market Talk

Dow Jones

03/26

0211 GMT - Pop Mart's valuation looks undemanding after the share-price correction, Citi analysts say in a research note. Pop Mart's shares plunged 22.5% on Wednesday after its 2025 results and are last down 8.3% at HK$154.20 on Thursday morning. The Labubu maker's 2025 results came in below the bank's expectation, given more-than-expected deceleration in Americas in 4Q. Management's guidance of no less-than 20% growth in 2026 is below Citi's expectation, but "may to some extent alleviate market concerns over growth sustainability." Citi maintains a buy call on Pop Mart but cuts its target price to HK$350.00 from HK$415.00. However, Citi sees upside from emerging IPs and monetization opportunities for Labubu in a wide range of fields in 2026. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

March 25, 2026 22:11 ET (02:11 GMT)

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The Labubu maker's 2025 results came in below the bank's expectation, given more-than-expected deceleration in Americas in 4Q. Management's guidance of no less-than 20% growth in 2026 is below Citi's expectation, but \"may to some extent alleviate market concerns over growth sustainability.\" Citi maintains a buy call on <a href=\"https://laohu8.com/S/09992\">Pop Mart</a> but cuts its target price to HK$350.00 from HK$415.00. However, Citi sees upside from emerging IPs and monetization opportunities for Labubu in a wide range of fields in 2026. (sherry.qin@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 25, 2026 22:11 ET (02:11 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Pop Mart's Valuation Looks Undemanding After Price Correction -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPop Mart's Valuation Looks Undemanding After Price Correction -- Market Talk\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2026-03-26 10:11</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0211 GMT - <a href=\"https://laohu8.com/S/PMRTY\">Pop Mart</a>'s valuation looks undemanding after the share-price correction, Citi analysts say in a research note. <a href=\"https://laohu8.com/S/POPMF\">Pop Mart</a>'s shares plunged 22.5% on Wednesday after its 2025 results and are last down 8.3% at HK$154.20 on Thursday morning. The Labubu maker's 2025 results came in below the bank's expectation, given more-than-expected deceleration in Americas in 4Q. Management's guidance of no less-than 20% growth in 2026 is below Citi's expectation, but \"may to some extent alleviate market concerns over growth sustainability.\" Citi maintains a buy call on <a href=\"https://laohu8.com/S/09992\">Pop Mart</a> but cuts its target price to HK$350.00 from HK$415.00. However, Citi sees upside from emerging IPs and monetization opportunities for Labubu in a wide range of fields in 2026. (sherry.qin@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 25, 2026 22:11 ET (02:11 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0359202008.SGD","symbol_name":"Blackrock China Fund A2 SGD-H","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2622849438","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2622849438","pubTimestamp":1774491060,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0211 GMT - Pop Mart's valuation looks undemanding after the share-price correction, Citi analysts say in a research note. Pop Mart's shares plunged 22.5% on Wednesday after its 2025 results and are last down 8.3% at HK$154.20 on Thursday morning. The Labubu maker's 2025 results came in below the bank's expectation, given more-than-expected deceleration in Americas in 4Q. Management's guidance of no less-than 20% growth in 2026 is below Citi's expectation, but \"may to some extent alleviate market concerns over growth sustainability.\" Citi maintains a buy call on Pop Mart but cuts its target price to HK$350.00 from HK$415.00. However, Citi sees upside from emerging IPs and monetization opportunities for Labubu in a wide range of fields in 2026. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","IE0034224299.USD":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","LU1770036033.HKD":"NINETY ONE GSF ASIAN EQUITY \"A\" (HKD) ACC","LU1880383440.USD":"AMUNDI FUNDS CHINA EQUITY \"A2\" (USD) INC","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","LU0572944931.SGD":"Janus Henderson Horizon China Opportunities A2 SGD","LU1481107354.HKD":"HSBC GIF HONG KONG EQUITY \"AD\" (HKD) INC","LU0149721374.USD":"HSBC GIF HONG KONG EQUITY \"AD\" INC","LU0231483743.USD":"abrdn SICAV I - ALL CHINA SUSTAINABLE EQUITY \"A\" (USD) ACC","PMRTY":"Pop Mart International Group Limited","BK1224":"专卖店","LU2543165471.USD":"E FUND (HK) GLOBAL QUALITY GROWTH \"A\" (USD) ACC","SGXZ86797644.SGD":"MAYBANK ASIAN GROWTH AND INCOME-I \"A\" (SGDHDG) INC","SG9999001069.SGD":"UOB UNITED ASIA PACIFIC GROWTH (SGD) ACC","LU0531971595.HKD":"HSBC GIF CHINESE EQUITY \"AD\" (HKD) INC","LU0871576103.HKD":"HSBC GIF CHINESE EQUITY \"AC\" (HKD) ACC","SGXZ62798434.SGD":"MAYBANK ASIAN GROWTH AND INCOME-I \"A\" (SGDHDG) ACC","LU0164865239.USD":"HSBC GIF CHINESE EQUITY \"AC\" (USD) ACC","09992":"泡泡玛特","LU0611395673.USD":"NINETY ONE GSF EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU0499858438.USD":"NINETY ONE GSF ASIA PACIFIC EQUITY OPPORTUNITIES \"A\" (USD) INC","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","LU0348766576.USD":"ALLIANZ LITTLE DRAGONS \"A\" (USD) INC","LU0359201885.HKD":"BGF CHINA \"A2\" (HKD) ACC","LU0345776255.USD":"NINETY ONE GSF ASIAN EQUITY \"A\" (USD) INC","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","LU0211977185.USD":"EASTSPRING INVESTMENTS GREATER CHINA EQUITY \"A\" ACC","LU0345775950.USD":"NINETY ONE GSF ASIAN EQUITY \"A\" (USD) ACC","LU0348767384.USD":"ALLIANZLITTLE DRAGONS \"A\" (USD) ACC","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","LU0823426480.USD":"法巴中国股票经典Dis","LU0593848301.USD":"未来资产亚洲卓越消费股票基金A","LU0164880469.USD":"HSBC GIF HONG KONG EQUITY \"AC\" ACC","LU0823426308.USD":"法巴中国股票基金","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","SG9999002950.SGD":"United Asian Growth Opportunities SGD","LU0499858602.USD":"NINETY ONE GSF ASIA PACIFIC EQUITY OPPORTUNITIES \"A\" (USD) ACC","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","LU0359201612.USD":"贝莱德中国基金A2"},"translate_title":"价格调整后泡泡玛特的估值看起来并不高——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"09992":1.96,"PMRTY":1.96},"content_text":"0211 GMT - Pop Mart's valuation looks undemanding after the share-price correction, Citi analysts say in a research note. Pop Mart's shares plunged 22.5% on Wednesday after its 2025 results and are last down 8.3% at HK$154.20 on Thursday morning. The Labubu maker's 2025 results came in below the bank's expectation, given more-than-expected deceleration in Americas in 4Q. Management's guidance of no less-than 20% growth in 2026 is below Citi's expectation, but \"may to some extent alleviate market concerns over growth sustainability.\" Citi maintains a buy call on Pop Mart but cuts its target price to HK$350.00 from HK$415.00. However, Citi sees upside from emerging IPs and monetization opportunities for Labubu in a wide range of fields in 2026. (sherry.qin@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 25, 2026 22:11 ET (02:11 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}