《大行》花旗大升泡泡瑪特(09992.HK)目標價至308元 IP知名度不斷提升
花旗發表研究報告指,泡泡瑪特(09992.HK)具標誌性的IP在全球的知名度不斷提升,且成功推出新產品。隨著愈來愈多的公司加入流行玩具行業,但泡泡瑪特擁有獨特的IP孵化和產品開發能力,而其以內容為導向的行銷策略,以及強大的新產品推出渠道,應可持續提升其頂級IP LABUBU在全球的知名度,而其他經典IP亦將成為新的增長動力。
該行認為,泡泡瑪特多元化的IP策略應可為其長期持續增長奠定基礎。推出新產品亦可能成為其短期催化因素。該行調升集團2025至27年的盈測38至49%,料其今明兩年的淨利潤分別按年增長124%及40%,重申集團「買入」評級,目標價由162元大幅上調至308元。
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