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<Research>M Stanley Lifts PDD TP to US$220; 1Q NP Tops BABA's for 1st Time
Recommend 23 Positive 35 Negative 14 |
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Morgan Stanley issued a report on Pinduoduo (PDD.US), of which 1Q results were strong, reflecting further improvement in the local platform's take rate and the potential for Temu, the overseas platform, to break even. PDD's quarterly net profit surpassed that of BABA-SW (09988.HK) for the first time, and approached the full-year guidance level of JD-SW (09618.HK). Morgan Stanley believed PDD is undervalued now, and raised its TP to US$220 from US$181, with a rating of Overweight. AAStocks Financial News |
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