Citi lowered the firm’s price target on PDD Holdings (PDD) to $125 from $147 and keeps a Neutral rating on the shares after the company reported a softer-than-expected Q3 with total revenue and non-GAAP net profit missing consensus by 3% and 6%, respectively. The firm cites estimate revisions for its lowered target and contends that the tariff overhang and uncertainty about the profitability trend remain.
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