Glonghui on May 28 | Pinduoduo (PDD.US) rose 3.02% to $162.33 in the premarket. According to financial reports previously released by Pinduoduo, Q1 revenue for 2024 was 86.81 billion yuan, up 131% year on year, far exceeding market expectations of 75.6 billion yuan, mainly driven by increased revenue from online marketing services and transaction services; adjusted net profit of 30.60 billion yuan, up 202% year on year, far exceeding market expectations of 15.53 billion yuan; adjusted revenue per ADS was 20.72 yuan, far exceeding market expectations of 10.54 yuan. After the results were announced, several investment banks raised Pinduoduo's target prices. Among them: - UBS raised the target price from $248 to $272 to maintain the “buy” rating; - DBS raised the target price from $241 to $264 to maintain the buying rating; - Damo raised the target price from $181 to $220 to “increase holdings”; - Xiaomo raised the target price to $220 to reaffirm the “overweight” rating; - China Merchants Securities raised the target price to $211 to maintain the “increase” rating; - Bank of America Securities raised the target price from $191 to $206 The dollar maintains a “buy” rating; - Lyon sets the target price from $180 Raised to $190, maintaining a “buy” rating; - Goldman Sachs raised the target price from $145 to $184, and raised the rating from “neutral” to “buy.”
美股异动丨拼多多盘前涨超3%，绩后获多家大行上调目标价，大摩看高至220美元
Changes in US stocks 丨 Pinduoduo rose more than 3% before the market. After the results, many major banks raised their target prices, and Damo was as high as 220 US dollars
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