Pop Mart International Group Limited (735 – Research Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Wei Dustin from Morgan Stanley maintained a Buy rating on the stock and has a HK$164.00 price target.
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Wei Dustin has given his Buy rating due to a combination of factors that highlight Pop Mart International Group Limited’s strategic positioning and resilience in the face of external challenges. The company is actively diversifying its supply chain by increasing its reliance on suppliers in Vietnam, which is expected to cover a significant portion of US sales by 2025. This strategic move is aimed at mitigating the impact of high tariffs on Chinese imports, thereby safeguarding its margins.
Furthermore, Pop Mart’s ability to raise average selling prices in the US demonstrates its pricing power and adaptability to tariff fluctuations. The company’s strong performance in China, coupled with its global direct-to-consumer model, positions it well for sustained growth. Wei Dustin believes that despite current trade tensions, building a long-term position in Pop Mart could be rewarding, as the company continues to execute its growth initiatives and expand its market presence.
According to TipRanks, Dustin is ranked #944 out of 9290 analysts.
In another report released on March 28, HSBC also maintained a Buy rating on the stock with a HK$172.00 price target.