0652 GMT - Pop Mart International Group appears poised for a strong earnings outlook with improved visibility into 2025, Jefferies analysts write in a note. The Chinese toy company's brand popularity has reached a new high in November, highlighted by a K-pop celebrity featuring Pop Mart products during a Vanity Fair interview, they say. The interview likely boosted the Pop Mart brand's recognition among Western audiences and customers, the analysts add. Building on this popularity, they believe Pop Mart's 4Q overseas sales growth momentum could match or even surpass that of 3Q. Jefferies raises the stock's target price to HK$97.20 from HK$80.50, maintaining a buy rating. Shares are last at HK$87.60.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
November 25, 2024 01:52 ET (06:52 GMT)
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