Goldman Sachs Downgrades PDD Holdings to Neutral, Announces $136 Price Target
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Ronald Keung downgraded PDD Holdings (NASDAQ:PDD) from Buy to Neutral and set a price target of $136.

March 11, 2024 | 1:06 pm
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Goldman Sachs downgraded PDD Holdings to Neutral from Buy, with a new price target of $136.
Analyst downgrades typically lead to a negative short-term reaction in the stock price as they suggest a less optimistic outlook on the company's future performance. The downgrade from a major financial institution like Goldman Sachs can particularly impact investor sentiment and stock price. The setting of a price target provides a benchmark but the downgrade is the key driver of the expected negative impact.
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