---
title: "Morgan Stanley lowers POP MART's target price by 15% but states that the current valuation offers an attractive entry point"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/267754431.md"
description: "Morgan Stanley has lowered the target price for POP MART by 15% to HKD 325, reflecting unfavorable rotations in the global consumer sector. However, it believes that the current valuation provides an attractive entry point, with an expected price-to-earnings ratio of 16 times in 2026. Analysts indicate that the valuation adjustment phase may pause, and POP MART will benefit from brand influence and a loyal fan base in the Chinese and Asia-Pacific markets, with store expansion and products in the U.S. market supporting long-term growth"
datetime: "2025-11-28T01:30:44.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/267754431.md)
  - [en](https://longbridge.com/en/news/267754431.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/267754431.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/267754431.md) | [繁體中文](https://longbridge.com/zh-HK/news/267754431.md)


# Morgan Stanley lowers POP MART's target price by 15% but states that the current valuation offers an attractive entry point

Morgan Stanley lowered the target price for POP MART by nearly 15%, from HKD 382 to HKD 325, to reflect adverse rotations in the global consumer sector and other factors.

However, Morgan Stanley stated that despite the market's long and short positions being difficult to resolve in the short term, the bank still believes that the current expected price-to-earnings ratio of 16 times for 2026 provides an attractive entry opportunity for this high net asset return company, which is deeply rooted in the "adult playfulness" demand.

Analysts Dustin Wei and others mentioned in the report that the valuation adjustment phase for POP MART may pause, as its price-to-earnings ratio has returned to the low levels seen in the fourth quarter of 2022 and the fourth quarter of 2023.

POP MART is expected to maintain momentum in 2026, primarily benefiting from strong brand influence and a loyal fan base in the Chinese and Asia-Pacific markets.

Concerns about Labubu and the U.S. market are excessive, and store expansion along with more products aimed at the U.S. market will support long-term growth after 2026

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

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