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.
Wall Street analysts are rushing to raise price targets on Pop Mart International Group following the success of its Labubu dolls.
At least five brokerages, including Deutsche Bank and Morgan Stanley, have lifted projections on the Hong Kong-listed stock this week. Citigroup hiked its price target by 90% to a street high of HK$308 apiece, citing the growing influence of the company’s intellectual properties globally.
