大行評級丨大摩:調高泡泡瑪特目標價至204港元,料Labubu 3.0帶動銷售續強
摩根士丹利再度調高泡泡瑪特(9992.HK)目標價,由164港元上調至204港元,調高24%,維持“增持”評級。大摩指,泡泡瑪特第一季銷售增1.65倍至1.7倍,預期第二季業績持續強勁,銷售料同比增約1倍,至於下半年基於高基數,增幅料放緩至約50%,主因受惠推出Labubu 3.0,加上熱門產品的補貨和海外擴張等,上調目標價已考慮美國關稅對利潤影響的因素。大摩亦調高泡泡瑪特今明兩年盈利預測15%及14%,至62.51億元人民幣及83.53億元人民幣,今明兩年營業額預測亦調高至244.68億元人民幣及317.36億元人民幣。受關稅影響,今年毛利率預測將由68.3%降至66.9%,明年料略爲復甦,預期則由68.8%減至68%。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.