PDD Holdings price target raised to $161 from $157 at Jefferies

Jefferies analyst Thomas Chong raised the firm’s price target on PDD Holdings to $161 from $157 and keeps a Buy rating on the shares after the company reported a Q4 beat and management highlighted its high quality strategies across consumption, supply and ecosystems during the call. For the domestic market, PDD highlighted improving consumer sentiment and an emphasis on satisfying demand, while for overseas operations the company said it is in early stages and is focused on innovations and operations with plans to continue to invest for the long term, the analyst tells investors.