泡泡瑪特升6%續創歷史新高,年內累升155%,市值突破3000億港元
延續強勢,泡泡瑪特(9992.HK)今日繼續走高,午後再度拉昇一度升6%報229港元,再創歷史新高;該股年內累升155%,市值已突破3000億港元。消息面上,泡泡瑪特全新發布的Labubu第三代搪膠毛絨產品再次風靡全球。據悉,不止在國內門店,為搶購到時下最火爆的Labubu 3.0,最近,美國洛杉磯、英國倫敦等線下門店都出現大排長龍的盛況。二手平台上,原價99元/盒的Labubu 3.0出現不同程度溢價,其中隱藏款盲盒出價高達2300元,相比官方售價溢價超20倍。摩根士丹利發佈研究報吿指,由於Labubu v3在全球的需求強勁,尤其是美國,將帶動新店開業,這將會是2025至2026年的關鍵增長因素。摩根士丹利將泡泡瑪特目標價由204港元上調至224港元,給予“增持”評級。摩根大通首予泡泡瑪特“增持”評級,目標價250港元,看好其強大的IP供應,稱Labubu是崛起中的超級IP。該行料其海外銷售額在2025年按年增加152%,2025至2027年的年複合增長率為42%,佔2027年銷售額的65%。該行預測,在強大的IP、開店、生產力提升、品類和利潤率擴張的帶動下,公司2024至2027年銷售和盈利年複合增長率分別達44%及56%。該行對其2025至2027年每股盈測較市場預測高出9%至15%。

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