PDD Holdings price target raised to $190 from $186 at HSBC

HSBC raised the firm’s price target on PDD Holdings to $190 from $186 and keeps a Buy rating on the shares. The company’s growth acceleration in domestic marketing in Q4 demonstrates its “defensiveness against the competition,” the analyst tells investors in a research note. The firm says the company’s stronger than expected growth continued in Q4 while it is navigating overseas growth opportunities and challenges.