PDD Holdings price target raised to $115 from $103 at Barclays

Barclays raised the firm’s price target on PDD Holdings to $115 from $103 and keeps an Overweight rating on the shares. PDD delivered much stronger than expected Q2 results, the analyst tells investors in a research note. The firm continues to believe the company is “growing rapidly” for its China business while Temu is “storming through rest of the world one country after another.”