---
title: "Daiwa raised PDD's target price to $160 and reiterated a \"Buy\" rating"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/266473250.md"
description: "Daiwa raised PDD's target price to $160 and reiterated a \"Buy\" rating"
datetime: "2025-11-19T03:18:28.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/266473250.md)
  - [en](https://longbridge.com/en/news/266473250.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/266473250.md)
---

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# Daiwa raised PDD's target price to $160 and reiterated a "Buy" rating

Daiwa's research report pointed out that Pinduoduo (PDD.US) exceeded market expectations for adjusted net income in the third quarter of this year by 30%. However, unexpectedly, due to lower-than-expected commission rates in the third quarter, its online marketing revenue growth has slowed. Looking ahead, although Pinduoduo will continue to invest in its ecosystem, Daiwa believes that the reduced losses of its cross-border e-commerce platform Temu and stricter cost control in domestic operations will support its net profit margin to remain stable year-on-year and leave room for profit margin improvement by 2026.

Daiwa raised its earnings per share forecast for Pinduoduo for 2025 to 2027 by 6% to 30% to reflect lower-than-expected sales and marketing expenses; it reiterated a "Buy" rating, raising the target price from $145 to $160

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