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大行評級|高盛:維持泡泡瑪特“中性”評級 上調名創優品12個月目標價
高盛發表研究報吿指,泡泡瑪特披露上半年業績後,強勁展望帶動股價上升,隨後出現波動,認為這反映了對高頻數據放緩的情緒波動,尤其是二手市場價格,認為此修正更多與公司增加貨幣化相關——例如,第一批迷你Labubu的釋出量明顯高於前一系列,這支持盈利增長。高盛相信,強勁盈利仍將為估值提供一些支持。對於名創優品,高盛指其估值在第二季業績超預期後,回升至預測2025年市盈率高十位數(約16倍至19倍),這為市場帶來更多信心,但認為相較成長展望仍不高。其新推出的自家IP是管理層及投資者關注焦點。高盛予泡泡瑪特目標價350港元,維持“中性”評級。高盛上調名創優品的12個月目標價,美股從25.3美元上調至29美元,港股目標價從49港元上調至56港元,維持“買入”評級。
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