---
title: "Citi maintains a \"Buy\" rating on PDD, with a target price raised to $170"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/266475950.md"
description: "Citi released a research report, maintaining a \"Buy\" rating on PDD, with a target price raised to $170. The report pointed out that PDD's operating profit and net profit for the third quarter under non-GAAP exceeded expectations, and management reiterated its commitment to building a long-term healthy ecosystem through the \"100 Billion Subsidy\" and \"1 Trillion Support\" plans. Citi believes that the related investments will impact short-term revenue and profit growth, but the current valuation is not high"
datetime: "2025-11-19T03:57:35.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/266475950.md)
  - [en](https://longbridge.com/en/news/266475950.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/266475950.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/266475950.md) | [繁體中文](https://longbridge.com/zh-HK/news/266475950.md)


# Citi maintains a "Buy" rating on PDD, with a target price raised to $170

Citi released a research report indicating that Pinduoduo (PDD.US) showed solid performance in operating profit and net profit under non-GAAP for the third quarter, exceeding the bank's and market expectations by 3%, 10%, and 21%, 25%, respectively. Management reiterated its commitment to building a long-term sustainable and healthy ecosystem through the "100 Billion Subsidy" and "1000 Billion Support" programs. Citi believes that the related investments will impact the company's short-term revenue and profit growth performance, raising the target price from $167 to $170, maintaining a "Buy" rating, and considering the current price level to be undervalued

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