GLONGHUI, May 23 | Jefferies released a report saying that Pinduoduo's quarterly results exceeded market expectations. Management said that under market competition, they value user experience because customers will compare different platforms and emphasize high-quality consumption models, supply chains and ecosystems. Globalization is in its early stages, and the goal is to create long-term value. The bank maintained its “buy” rating, and the target price was raised from $161 to $193 to reflect the latest business developments after the performance. The bank expects Pinduoduo to invest further to increase user participation and volume, the share of revenue from sales and promotion expenses will decrease year by year, and the group will focus on long-term growth more than recent profitability.
大行评级｜杰富瑞：上调拼多多目标价至193美元 维持“买入”评级
Bank Ratings | Jefferies: Raising Pinduoduo's Target Price to $193 to Maintain a “Buy” Rating
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