Pop Mart shares rose as much as 3.5% on Friday, extending their year-to-date climb to around 200%, before erasing those gains midday. Earlier this week, the stock touched a fresh record high.
Pop Mart Shares Trade Above Average Target
The growing popularity of Pop Mart’s toothy monster dolls is boosting sales prospects for the firm. THE MONSTERS blind-box series, with Labubu at its centre, generated more than 3 billion yuan in sales for Pop Mart last year, accounting for almost one-fourth of the company’s revenue.
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Pop Mart is trading above the 12-month average analyst price target tracked by Bloomberg and the rally has pushed shares to overbought territory. While valuations at 45 times forward earnings have topped that for peers like Sanrio Co and Walt Disney Co, some analysts are optimistic that shares can continue to rise after tripling so far this year.
The stock is the best performer on the MSCI China Index this year after making it among the biggest gainers on the gauge in 2024.
