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<Research>JPM Trims Pinduoduo's TP to USD110; No Improvement in Earnings Growth Visibility
Recommend 2 Positive 1 Negative 2 |
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Pinduoduo (PDD.US)'s share price has declined by 13% YTD and 25% over the past six months, slightly outperforming the KWEB Index, according to JPMorgan's research report. This performance was a result of attractive valuations and investor confidence in the company's competitiveness and the growth potential of its overseas business, Temu. That said, JPMorgan doesn't expect Pinduoduo to outpace the market in the next 3-6 months, given that the disappointing 4Q25 results and the newly announced RMB100 billion investment plan failed to bolster investor confidence in the company's ability to resume double-digit revenue and earnings growth in the coming quarters. JPMorgan has kept a Neutral rating on Pinduoduo and reduced its target price from USD130 to USD110. AAStocks Financial News |
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