Update shared on23 Aug 2025
Fair value Increased 14%Analysts raised their price targets for MINISO Group Holding to $25.81, driven by stronger-than-expected Q2 results, improved same-store sales in China, higher earnings forecasts, and a more favorable valuation outlook.
Analyst Commentary
- Bullish analysts cited Miniso's better-than-expected Q2 results, highlighting positive same-store sales growth in China and resumed store openings.
- Raised 2025 and 2026 non-IFRS EPS estimates following improved performance and stronger outlook.
- Increased price targets reflect both higher earnings estimates and a higher target valuation multiple.
- Some analysts moved to a more neutral stance from previously bearish positions due to Q2 outperformance, though caution remains.
- Roll-forward of valuation basis contributed to the upward revision in target prices.
What's in the News
- BofA upgraded MINISO to Neutral from Underperform, raising the price target to $24 from $16.50 after the company's Q2 results beat expectations and increasing 2025 and 2026 EPS estimates (Periodicals).
- MINISO completed repurchasing 14.6 million shares (4.73% of outstanding shares) for HKD 468.89 million as part of its ongoing buyback program announced in August 2024 (Key Developments).
- On August 9, MINISO opened its first flagship store in Amsterdam, featuring immersive IP-themed zones and introducing upgraded product and brand experiences to expand its presence in the Netherlands and Europe (Key Developments).
- MINISO plans a Hong Kong IPO for its Top Toy unit, hiring JPMorgan Chase & Co. and UBS as underwriters while seeking investment from potential backers including sovereign wealth funds (Key Developments).
- In May, MINISO expanded in Canada with a new experiential store at Don Mills in Toronto, combining retail, entertainment, and food offerings, and achieving a successful opening with strong initial sales (Key Developments).
Valuation Changes
Summary of Valuation Changes for MINISO Group Holding
- The Consensus Analyst Price Target has significantly risen from $22.74 to $25.81.
- The Future P/E for MINISO Group Holding has significantly fallen from 14.16x to 2.04x.
- The Net Profit Margin for MINISO Group Holding has risen slightly from 15.12% to 15.71%.
Disclaimer
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