0316 GMT - Pop Mart International could post higher sales this year supported by more overseas store openings, Jefferies analysts write in a note. They expect Pop Mart to open 70 more stores abroad, with the U.S. becoming an important sales contributor. The company's brand heat, a term used to describe moments that a brand creates to garner attention from consumers, is also likely to continue, especially in Europe and North America with the opening of more stores and social media exposure, they add. Jefferies expects 40% sales growth in 2025. It raises the Chinese toy company's target price to HK$103.00 from HK$97.20 and maintains a buy rating. Shares are 2.2% lower at HK$85.05.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
January 09, 2025 22:16 ET (03:16 GMT)
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