PDD Holdings: Why It's A Buy Amid Resilient Demand And Adaptive Strategies
Portfolio Pulse from Nabaparna Bhattacharya
Benchmark analyst Fawne Jiang reiterated a Buy rating on PDD Holdings Inc. (NASDAQ:PDD), raising the price target to $125. PDD reported Q1 FY23 revenue growth of 58% YoY to $5.48 billion, beating consensus estimates. The analyst attributed the outperformance to resilient demand for value products and the company's adaptive strategies.
May 30, 2023 | 5:16 pm
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PDD Holdings' Q1 FY23 revenue growth of 58% YoY to $5.48 billion beats estimates, leading Benchmark analyst Fawne Jiang to reiterate a Buy rating and raise the price target to $125.
The outperformance in Q1 FY23 revenue growth, resilient demand for value products, and the company's adaptive strategies are positive factors for PDD Holdings. The raised price target and Buy rating reiteration by Benchmark analyst Fawne Jiang indicate a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100