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<Research>Nomura Slashes POP MART (09992.HK) TP to HKD261; Mgmt's Sales Growth Guidance Conservative
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POP MART (09992.HK)'s FY25 results slightly missed, Nomura highlighted in a research report. The management set a conservative 20% YoY sales growth target for 2026 with plans to focus on operational optimization, such as optimizing organizational structure and solidifying overseas execution.

While actively controlling the growth rate helps maintain long-term growth potential, market expectations for the company in the short term may wane, in the broker's view. Therefore, the target price was slashed from HKD372 to HKD261, and Buy rating was kept.

Related News M Stanley Expects Pop Mart (09992.HK) Overseas Market Growth to Slow This Year, Lowers TP to HKD278

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