Bubble Mart (09992) rose more than 5% in the afternoon, and has accumulated 125% since the beginning of February. As of press release, it rose 5.12% to HK$39, with a turnover of HK$229 million.
The Zhitong Finance App learned that Bubble Mart (09992) rose more than 5% in the afternoon, and has accumulated a cumulative increase of 125% since the beginning of February. As of press release, it rose 5.12% to HK$39, with a turnover of HK$229 million.
Jefferies published a report. After Bubble Mart recorded strong sales growth of 40% to 45% in the first quarter, the growth momentum for the second quarter may be stronger than management expectations, so it is expected to raise this year's sales target when announcing interim results in August, mainly due to Labubu's popularity in the mainland and Southeast Asia, as well as the company's more detailed brand management, and other IPs also contributed to sales. Jefferies raised the target price of Bubble Mart by 30% from HK$30.1 to HK$39.3, maintaining the “buy” rating.
Damo, on the other hand, said that Bubble Mart's target price-earnings ratio will be raised to reflect stronger profit growth this year, and indicated that it will witness the Group's transformation into a leading IP operator. Damo raised its profit forecast for Bubble Mart from 2024 to 2026. It is expected that this year's sales and adjusted net profit will increase by 38% and 40%, respectively. The target price was raised by 18% from HK$38 to HK$45, while the target price-earnings ratio for this year was raised to 33 times (or predicted to be 26 times the price-earnings ratio next year).