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<Research>Citi Lifts PDD (PDD.US) TP to US$145 as 4Q25 Results Largely In Line
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PDD Holdings (PDD.US)'s 4Q25 results were largely in line with expectations in terms of revenue and operating profit, Citi Research issued a research report saying. Of which, its revenue from online marketing services (OMS) further slowed to a 5% YoY growth, reflecting macroeconomic weakness and intensified competition. The YoY growth rate of transaction services revenue rebounded to 19%, indicating that the impact of tariffs is normalizing and the management portfolio model. PDD Holdings is committed to making strategic investments to strengthen its supply chain capabilities, helping merchants improve product quality and extending product reach to rural users. The broker believed that the market will be more receptive to this supply chain investment, as it will not only bring substantial returns in the long term, especially in the AI era, but also solidify PDD Holdings' competitive moat. Therefore, Citi Research lifted its target price from US$142 to US$145, with rating kept at Buy/ High Risk. AASTOCKS Financial News Website: www.aastocks.com |
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