Jefferies analyst Thomas Chong lowered the firm’s price target on PDD Holdings (PDD) to $171 from $181 and keeps a Buy rating on the shares after the company reported Q3 results and management highlighted the competitive environment is intense in domestic market during the associated conference call. The firm expects investments to build for the long term and lowers its target to factor in the latest trends.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
