[ET Net News Agency, 28 November 2025] Morgan Stanley lowered the target price for Pop
Mart (09992) to HKD325 from HKD382 and maintained the "overweight" rating.
The research house said after Pop Mart's exponential growth in 2024-25, it expects
sustained momentum in 2026, boosted by China and APAC, where the brand enjoys a strong
franchise and loyal fans. (rc)