---
title: "《大行》瑞银：泡泡玛特股价回调创造买入机会"
description: "瑞银报告指出，泡泡玛特股价自近期高位下跌约 19%，主要受获利了结、二手市场价格走软及 Google 搜寻趋势下滑影响。尽管如此，瑞银对泡泡玛特的基本面持乐观态度，认为当前股价回调为短期催化剂创造买入机会，重申「买入」评级，目标价 432 元。"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/256834416.md"
published_at: "2025-09-11T01:45:45.000Z"
---

# 《大行》瑞银：泡泡玛特股价回调创造买入机会

> 瑞银报告指出，泡泡玛特股价自近期高位下跌约 19%，主要受获利了结、二手市场价格走软及 Google 搜寻趋势下滑影响。尽管如此，瑞银对泡泡玛特的基本面持乐观态度，认为当前股价回调为短期催化剂创造买入机会，重申「买入」评级，目标价 432 元。

瑞银发表报告指，泡泡玛特 (09992.HK) 股价自近期高位下跌约 19%，该行认为主要受三大因素影响，包括纳入恒生指数成分股後的获利了结、部分产品二手市场价格走软，以及在 Google 全球搜寻趋势下滑。值得注意的是，该行曾观察到类似走势，惟这些变化并未改变对泡泡玛特基本面的乐观展望。

瑞银认为，泡泡玛特当前股价回调正为预期中的短期催化剂创造买入机会，包括万圣节新品与 15 周年纪念系列上市，以及关键的圣诞销售旺季。该行重申对其「买入」评级，目标价 432 元。

### Related Stocks

- [09992.HK - 泡泡玛特](https://longbridge.com/zh-CN/quote/09992.HK.md)

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