PDD Holdings price target raised to $178 from $164 at Barclays

Barclays analyst Jiong Shao raised the firm’s price target on PDD Holdings to $178 from $164 and keeps an Overweight rating on the shares. The company’s Q4 results topped expectations, and despite strong growth both in China and overseas via Temu, its costs and expenses were well controlled, resulting in better margins, the analyst tells investors in a research note.