0827 GMT - Pop Mart International is likely to benefit from popular IPs, says Jessie Xu of Deutsche Bank Research. She highlights that Pop Mart's Ne Zha toys are sold out across channels and regions in China following the release of China-produced animated film "Ne Zha 2." Industry expectations for the movie's box-office total have been raised every day since its debut, and the film could remain popular for some time with Chinese national pride on the rise, Xu adds. Meanwhile, CryBaby, Pop Mart's art toy with a cute character, is fast becoming the next blockbuster IP, taking more shelf space in the stores Deutsche visits, the analyst says in a note. She keeps a buy rating on the stock and raises the target price to HK$114.00 from HK$108.00. Shares end 0.4% lower at HK$104.30. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
February 12, 2025 03:27 ET (08:27 GMT)
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