Benchmark lowers PDD price target, says market 'overreacting' - InvestingChannel

Benchmark lowers PDD price target, says market ‘overreacting’

Benchmark analyst Fawne Jiang lowered the firm’s price target on PDD Holdings to $185 from $230 and keeps a Buy rating on the shares following the company’s “mixed” Q2 results. While revenue fell short of consensus, profitability exceeded expectations, notes the analyst, who also points out that the company has guided for slower growth due to heightened domestic competition and ongoing international uncertainties. Despite the shift from a “beat and raise” narrative to a more uncertain outlook, the firm believes that PDD’s fundamentals are “not broken” and it thinks the market is “overreacting,” the analyst tells investors.

Related posts

Advisors in Focus- January 6, 2021

Gavin Maguire

Advisors in Focus- February 15, 2021

Gavin Maguire

Advisors in Focus- February 22, 2021

Gavin Maguire

Advisors in Focus- February 28, 2021

Gavin Maguire

Advisors in Focus- March 18, 2021

Gavin Maguire

Advisors in Focus- March 21, 2021

Gavin Maguire