Glonghui, Feb. 4 | Morgan Stanley published a research report. It is expected that Pinduoduo's stock price will have a 70% to 80% chance of outperforming the market within 30 days. Damo pointed out that Pinduoduo's domestic business market share continued to expand in the fourth quarter of last year, and the overseas business Temu's GMV also maintained a strong growth momentum, which could reach about 9 billion US dollars. The bank estimates that concerns about the potential impact of the tariff policy on Temu are reflected in Temu's stock price performance. Considering that its business growth trend has not changed, it believes that the recent decline in stock prices has provided investors with a good opportunity to enter the market. The rating is “increase in holdings”. The target price is 181 US dollars.