---
title: "JP Morgan raises the target price of POP MART to 350 yuan, expects holiday season to boost fourth-quarter sales"
description: "JP Morgan raised the target price for POP MART to 350 yuan, expecting sales in the fourth quarter to grow by 184% due to holiday boosts. Sales in the third quarter increased by 245% year-on-year, exce"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/262159211.md"
published_at: "2025-10-22T03:55:19.000Z"
---

# JP Morgan raises the target price of POP MART to 350 yuan, expects holiday season to boost fourth-quarter sales

> JP Morgan raised the target price for POP MART to 350 yuan, expecting sales in the fourth quarter to grow by 184% due to holiday boosts. Sales in the third quarter increased by 245% year-on-year, exceeding expectations, and profit forecasts for 2025 to 2027 were raised by 9% to 17%. This year's sales and profits are expected to grow by 209% and 340%, respectively, with a rating of "Overweight."

JP Morgan published a research report indicating that POP MART (09992.HK) sales in the third quarter grew by 245% year-on-year to 250%, far exceeding the bank's expectation of 140% and the market's expectation of 180%, with a quarter-on-quarter increase of 64% expected for the third quarter.

Morgan Stanley predicts that POP MART's sales in the fourth quarter will grow by 184% year-on-year, primarily driven by increased production capacity and a series of upcoming traditional holidays such as Halloween, Thanksgiving, Black Friday, and Christmas. Consequently, it has raised its earnings forecasts for 2025 to 2027 by 9% to 17%. The current forecast predicts that this year's sales and profits will grow by 209% and 340% year-on-year, respectively, with the target price raised from 320 yuan to 350 yuan, maintaining an "overweight" rating

### Related Stocks

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

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| 暴涨 50% 空头死扛不退！泡泡玛特正面临一场史诗级 “逼空” 风暴？ | 泡泡玛特港股近期暴涨 50%，但 S3 Partners 数据显示空头并未撤退，空头占自由流通股比例反而从 2% 激增至 16%，逼空风险评分达满分 100。分析师称这是罕见的 “极度拥挤单边押注”，尽管公司通过回购提振信心，但空头仍押注公 | [Link](https://longbridge.com/en/news/275545907.md) |
| 当泡泡玛特挤掉 “泡泡”——从 “超级 IP 确立” 走向 “全球长青” | 国联证券指出，泡泡玛特已超越 “盲盒泡沫” 阶段，正通过 Labubu 家族化与星星人等新 IP 矩阵建立可持续的 IP 生态。其核心战略是全球化扩张（尤其北美集群化开店）与产业链延伸（切入烘焙、珠宝等高頻消费场景），推动公司从 “超级 I | [Link](https://longbridge.com/en/news/275414453.md) |
| 年销 4 亿件！” 后 Labubu 时代”，泡泡玛特的高增长能否持续？ | 汇丰表示，“Labubu 带来的超高速增长会褪去，但平台能力会延续”，并将 2026 年定义为 “再定基” 的一年。瑞银认为，销量数据有助于缓解市场对单一爆款依赖的担忧，同时新 IP Twinkle 在 2026 年初开局强劲，为增长接力提 | [Link](https://longbridge.com/en/news/275396337.md) |
| 对话松延动力创始人姜哲源：从亮相春晚到「要规模」 | 2026 年机器人大战 | [Link](https://longbridge.com/en/news/276060330.md) |
| 必和必拓利润飙升 30%，铜业务首次超越铁矿石成最大利润来源 | 全球市值最大的矿业公司必和必拓（BHP）因押注铜需求激增而获得回报，上半财年净利润同比增长近 30%。铜业务贡献了公司 51% 的基础息税折旧摊销前利润，首次超越其他业务成为最大利润来源。能源和汽车行业的强劲需求持续推高铜价，令这一转型的战 | [Link](https://longbridge.com/en/news/276092142.md) |

---

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