PDD Holdings shares are trading lower after Citigroup downgraded the stock from Buy to Neutral and multiple firms lowered their respective price targets.
Portfolio Pulse from Benzinga Newsdesk
PDD Holdings shares declined following a downgrade by Citigroup from Buy to Neutral, along with reduced price targets from multiple firms.
August 27, 2024 | 4:20 pm
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NEGATIVE IMPACT
PDD Holdings experienced a share price decline due to Citigroup's downgrade from Buy to Neutral and reduced price targets from several firms.
The downgrade by Citigroup and the reduction in price targets by multiple firms are likely to negatively impact investor sentiment, leading to a short-term decline in PDD's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100