[ET Net News Agency, 10 February 2026] HSBC lowered the target price for Pop Mart
(09992) to HKD354 from HKD392.5 and maintained the "buy" rating.
The research house said it expects 2026 growth to normalise after dissecting the Labubu
growth risk, leading to 11-13% cut in 26-27 earnings. (rc)