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<Research>JPM Chops PDD (PDD.US) TP to US$170 on Manageable Demonetization Impact
Recommend 26 Positive 35 Negative 14 |
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According to industry survey, PDD Holdings Inc. (PDD.US)'s de-monetization impact was manageable, JPMorgan released a research report saying. As the Group scales back some of its overly aggressive initiatives, the impact on its short-term monetization will be slightly larger than expected, but the impact on the domestic competitive landscape will be modest. JPMorgan believed that these adjustments will support PDD's revenue and profit upsides in the long term, and forecasted a 17% CAGR in EPS from 2024-2027. The share prices of BABA-W (09988.HK) and JD-SW (09618.HK) are expected to outperform PDD in the near term. JPMorgan kept rating at Overweight on the Group, and chopped its target price from US$180 to US$170. AAStocks Financial News |
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