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.