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《大行》匯豐研升泡泡瑪特(09992.HK)目標價至331.5元 維持「買入」評級
阿思達克 06-26 09:56
匯豐研究發表報告指,泡泡瑪特(09992.HK)6月新進駐海外市場的Labubu在Google Trend指數大幅攀升。跟隨亞太區市場的模式,新系列的推出及其他IP可能持續引起消費者的興趣。 報告指,基於強勁的產品勢頭,進一步上調泡泡瑪特2025年的海外收入預測34%至143.25億元人民幣,並預期將按年增長183%,對今年集團收入佔比擴至51%,2024年佔比為39%。由於海外市場預測獲上調,2025年列賬淨利潤預測上調24%。該行料其今年non-IFRS純利按年大升131%至78.56億元人民幣,較原先預測高23%。 由於預測獲上調,匯豐研究維持予泡泡瑪特「買入」評級,目標價由215.5元升至331.5元,意味著明後兩年預測市盈率各39.8倍及31.4倍。
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