M Stanley: POP MART 1Q26 APAC Sales Miss; Share Price to Hinge on High-frequency Data in Coming Weeks
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Morgan Stanley reported that POP MARTmissed expectations for APAC sales in 1Q26, with Thailand facing significant year-over-year pressure. The firm attributes this weakness to reduced demand from speculators, slower tourist activity, and already high per capita sales in Thailand. Despite this, Morgan Stanley maintains an Overweight rating on POP MART with a target price of HKD247, indicating that share price will depend on high-frequency data in the coming weeks.
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