0509 GMT - The frenzy over Labubu spreading to U.S. and European markets should accelerate Pop Mart's earnings growth, Citi analysts say in a research note. Citi expects Pop Mart's 2025 net profit to grow 124% and revenue to gain 95% amid better global recognition of its IPs. Despite new entrants into the industry, the analysts still think Pop Mart is unique in terms of its "unparalleled capability of IP incubation and product development." The upgrade of its global organization structure and localized operation should also facilitate global expansion, they add. Citi raises the stock's target price to HK$308.00 from HK$162.00 and keeps a buy rating. Shares are 0.9% lower at HK$264.00. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
June 13, 2025 01:09 ET (05:09 GMT)
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