BofA lowered the firm’s price target on PDD Holdings (PDD) to $140 from $141 and keeps a Neutral rating on the shares after the company delivered a “strong profit beat” in Q3, exceeding consensus by 25%, driven by a rebound in adjusted operating growth and another quarter of higher-than-expected interest income, the analyst tells investors. The firm’s Neutral rating balances robust Temu expansion mixed with tariff/regulation overhangs and domestic uncertainties, the analyst says.
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