PDD Holdings price target raised to $224 from $178 at Barclays

Barclays raised the firm’s price target on PDD Holdings to $224 from $178 and keeps an Overweight rating on the shares. The company’s’ Q1 results came in “far ahead” of estimates, especially around margins and profits, the analyst tells investors in a research note. The firm estimates that Temu was close to break-even in Q1, almost two years ahead of the firm’s prior timeline.