---
title: "Morgan Stanley: Raises POP MART target price to HKD 350, expects holiday season to boost fourth-quarter sales"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/262186783.md"
description: "JP Morgan released a research report stating that POP MART's sales in the third quarter increased 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 growth of 64% expected for the third quarter. Morgan Stanley predicts that POP MART's sales in the fourth quarter will increase 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 profit forecast for 2025 to 2027 by 9% to 17%. The current forecast predicts that this year's sales and profits will increase by 209% and 340% year-on-year, respectively, with the target price raised from HKD 320 to HKD 350, maintaining a rating of \"Overweight.\""
datetime: "2025-10-22T08:19:05.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/262186783.md)
  - [en](https://longbridge.com/en/news/262186783.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/262186783.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/262186783.md) | [繁體中文](https://longbridge.com/zh-HK/news/262186783.md)


# Morgan Stanley: Raises POP MART target price to HKD 350, expects holiday season to boost fourth-quarter sales

According to the Zhitong Finance APP, JP Morgan released a research report stating that POP MART (09992) saw a year-on-year sales increase of 245% in the third quarter, far exceeding the bank's expectation of 140% and the market's expectation of 180%. Compared to the previous quarter, the third quarter is expected to grow by 64%. Morgan Stanley predicts that POP MART's sales in the fourth quarter will increase by 184% year-on-year, mainly 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 profit forecast for 2025 to 2027 by 9% to 17%. Currently, it predicts that this year's sales and profits will increase by 209% and 340% year-on-year, respectively, and has raised the target price from HKD 320 to HKD 350, with a rating of "Overweight."

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

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