大行評級丨交銀國際:升泡泡瑪特目標價至176港元 去年業績超預期評級“買入”
交銀國際研究報告指,泡泡瑪特(9992.HK)去年財務表現超預期,收入按年增106.9%,毛利率提升至66.8%,淨利潤率25.4%。派息比率35%,與2023年保持一致。該行維持評級“買入”,目標價升至176港元。該行指,泡泡瑪特內地市場收入按年增52.3%。其中,線下渠道收入增長41%,零售店和機器人商店均延續高速增長,分別按年增44%及26%;線上渠道按年增77%。海外市場按年大升375.2%。東南亞和北美市場表現尤爲強勁,分別呈6倍及5倍的增長。
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