周四（5月22日）盘中，泡泡玛特（09992）股价大涨5%，续创历史新高。据悉，该涨幅主要受益于摩根大通发布的积极研报。
摩根大通分析师在最新研报中指出，泡泡玛特旗下IP"Labubu"有望成为新一代"超级IP"。研报显示，Labubu的搜索热度在过去一年中呈指数级增长，并在2025年5月超过了Hello Kitty。分析师预计，到2027年，Labubu所在的THE MONSTERS系列销售额有望达到140亿元人民币，占集团年度收入的27%。
此外，摩根大通首次给予泡泡玛特"增持"评级，目标价250港元。该行预测，在强大的IP、开店、生产力提升、品类和利润率扩张的带动下，公司2024至2027年销售和盈利年复合增长率分别达44%及56%。分析师对泡泡玛特2025至2027年每股盈利预测较市场预测高出9%至15%。
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