Citi raised the firm’s price target on PDD Holdings (PDD) to $168 from $154 and keeps a Buy rating on the shares. Despite delivering stronger-than-expected profit, management stated on the call that Q2 profit benefited from e-commerce seasonality and will not represent future earnings, notes the analyst. The firm interprets this as “managing expectation and staying ‘low profile’,” the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PDD: