---
title: "Understanding the Market | POP MART rises over 4% again, Labubu remains in short supply, and the new IP \"Star People\" is rapidly emerging"
description: "POP MART rose over 4% again, as of the time of writing, up 4.25% to HKD 284.2, with a trading volume of HKD 882 million. JP Morgan released a research report stating that it has upgraded POP MART's ra"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/261350026.md"
published_at: "2025-10-16T01:41:03.000Z"
---

# Understanding the Market | POP MART rises over 4% again, Labubu remains in short supply, and the new IP "Star People" is rapidly emerging

> POP MART rose over 4% again, as of the time of writing, up 4.25% to HKD 284.2, with a trading volume of HKD 882 million. JP Morgan released a research report stating that it has upgraded POP MART's rating from "Neutral" to "Overweight," and raised the target price from HKD 300 to HKD 320. JP Morgan's adjustment is mainly based on two key factors: first, the continued strong performance of popular IPs; although Labubu's production capacity has increased tenfold compared to the first quarter, Labubu 3.0 and Mini Labubu remain sold out in all regions. Additionally, the new IP "Star People" is rapidly rising and is expected to contribute 8% of sales in 2027; second, the valuation attractiveness has significantly improved, as POP MART's stock price has corrected 24% from its August peak, while the Hang Seng Index has risen 7% during the same period. Currently, JP Morgan forecasts only a 20 times price-to-earnings ratio for 2026, making the risk-reward ratio more attractive

According to Zhitong Finance APP, POP MART (09992) has risen over 4% again, with a current increase of 4.25%, priced at HKD 284.2, and a transaction volume of HKD 882 million.

JP Morgan released a research report stating that it has upgraded POP MART's rating from "Neutral" to "Overweight," and raised the target price from HKD 300 to HKD 320. JP Morgan's adjustment is mainly based on two key factors: first, the continued strong performance of popular IPs; although Labubu's production capacity has increased tenfold compared to the first quarter, Labubu 3.0 and Mini Labubu are still sold out in all regions. Additionally, the new IP "Star People" is rapidly rising and is expected to contribute 8% of sales in 2027; second, the valuation attractiveness has significantly improved, as POP MART's stock price has corrected 24% from its August peak, while the Hang Seng Index has risen 7% during the same period. Currently, JP Morgan predicts a price-to-earnings ratio of only 20 times for 2026, making the risk-reward ratio more attractive

### Related Stocks

- [09992.HK - POP MART](https://longbridge.com/en/quote/09992.HK.md)
- [JPM.US - JPMorgan Chase](https://longbridge.com/en/quote/JPM.US.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| Pop Mart balances boom and bust: can Labubu’s leap match Molly’s momentum? | Pop Mart, the international art toy brand, faces challenges as its breakout figure Labubu sees a decline in secondary-ma | [Link](https://longbridge.com/en/news/275993548.md) |
| Labubu Maker's Shares Pop as Other Collectibles Gain Traction | Shares of Pop Mart surged to a two-month high, climbing 9.2% to close at 219.60 Hong Kong dollars, driven by the popular | [Link](https://longbridge.com/en/news/273507753.md) |
| IP Strategy Holdings Board Authorizes Share Repurchase Program, Stock Falls In Pre-Market | IP Strategy Holdings, Inc. (IPST) has authorized a share repurchase program to buy back up to 1 million shares by Decemb | [Link](https://longbridge.com/en/news/276343245.md) |
| Interpump Group (BIT:IP) Margin Slippage Tests Bullish Earnings Growth Narratives | Interpump Group (BIT:IP) reported FY 2025 Q4 revenue of €494.6 million and basic EPS of €0.35, with trailing twelve-mont | [Link](https://longbridge.com/en/news/276038308.md) |
| Key facts: JPMorgan Chase fined €12.18M for misreporting; $5B lawsuit shift | JPMorgan Chase's European unit was fined €12.18 million for misreporting capital requirements due to incorrect risk-weig | [Link](https://longbridge.com/en/news/276373243.md) |

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.