Glonghui on March 11 | Pinduoduo (PDD.US) rose 3.6% to $114.35. Jefferies recently re-rated Pinduoduo and raised its rating to “buy”, and the target price was raised from $117 to $157. The report points out that with its unique social e-commerce model and innovative marketing strategy, Pinduoduo has successfully attracted a large number of consumers and stood out in the fiercely competitive e-commerce market. At the same time, the company is also actively investing in technology research and development, optimizing user experience, improving service quality, and further consolidating its market position. In addition, Jefferies also emphasized Pinduoduo's advantages in cost control and profitability, which is one of the important reasons why the bank is optimistic about its future development.