Stock Track | MINISO Stock Soars After Citigroup's Bullish Initiation

Stock Track

Oct 05, 2024

Shares of MINISO Group Holding Limited (MNSO) surged over 10% on Thursday, October 4th, 2024, after Wall Street firm Citigroup initiated coverage on the Chinese discount retailer with an "Overweight" rating and a price target of $26.80.

The bullish initiation from Citigroup analyst Spencer Nevins appears to have ignited investor enthusiasm for MINISO stock. Nevins cited the company's business model of offering "affordable, high-quality lifestyle products" as well-positioned to capitalize on the growth opportunities in China's rapidly expanding middle-class consumer market.

Nevins also highlighted MINISO's strong brand recognition, extensive store network, and efficient supply chain as key competitive advantages. With the previous closing price of $19.90, Citigroup's $26.80 price target implies a potential upside of over 34%, providing further impetus for the stock's rally.

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Nevins cited the company's business model of offering \"affordable, high-quality lifestyle products\" as well-positioned to capitalize on the growth opportunities in China's rapidly expanding middle-class consumer market.</p>\n\n<p>Nevins also highlighted MINISO's strong brand recognition, extensive store network, and efficient supply chain as key competitive advantages. With the previous closing price of $19.90, Citigroup's $26.80 price target implies a potential upside of over 34%, providing further impetus for the stock's rally.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MNSO","symbol_name":"名创优品","start_time":0,"source_url":"","article_id":"1108641206","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1108641206","pubTimestamp":1728083906,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of MINISO Group Holding Limited  surged over 10% on Thursday, October 4th, 2024, after Wall Street firm Citigroup initiated coverage on the Chinese discount retailer with an \"Overweight\" rating and a price target of $26.80.The bullish initiation from Citigroup analyst Spencer Nevins appears to have ignited investor enthusiasm for MINISO stock. 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