BUZZ-PDD Holdings falls after JP Morgan cuts PT
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Shares of PDD Holdingshave decreased by 1.6% following JP Morgan's downgrade of its price target (PT). Despite challenges in financial visibility and intensified market competition, JP Morgan maintains that PDD is poised for double-digit profit growth in future quarters. PDD's management acknowledges potential pressures on revenue growth due to external factors. The stock has dropped 34% year-to-date, with 45 out of 48 brokerages still rating it as a "buy" or higher, and a median PT of .5.
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