Barclays raised the firm’s price target on PDD Holdings (PDD) to $165 from $158 and keeps an Overweight rating on the shares following the Q2 report. The firm’s analysis suggests the company’s domestic merchant support program is negatively affecting revenue growth and gross margins.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PDD: