Citi lowered the firm’s price target on PDD Holdings (PDD) to $152 from $165 and keeps a Buy rating on the shares following Q1 results. The firm said Q1 was an “unusual” quarter amid tariff noises that prompted pre-shipping of three to five months of inventory. While it remains uncertain when the revenues and profit growth could normalize, Citi sees increasing opportunity to buy on the dip, the firm told investors in a research note.
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