PDD Holdings price target raised to $191 from $182 at BofA

BofA raised the firm’s price target on PDD Holdings to $191 from $182 and keeps a Buy rating on the shares following what the firm calls “another robust quarter” to end the year. The firm raised its 2024 and 2025 revenue estimates by 6% and 15%, respectively, and non-GAAP net profit views by 16% and 20% on a higher domestic earnings base.