Citi Reaffirms Their Buy Rating on PDD Holdings (PDD)

In a report released yesterday, Alicia Yap from Citi maintained a Buy rating on PDD Holdings, with a price target of $167.00. The company’s shares closed yesterday at $118.02.

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Yap covers the Consumer Cyclical sector, focusing on stocks such as Alibaba, JD, and PDD Holdings. According to TipRanks, Yap has an average return of 5.5% and a 45.11% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PDD Holdings with a $144.24 average price target, a 22.22% upside from current levels. In a report released yesterday, Jefferies also maintained a Buy rating on the stock with a $146.00 price target.

Based on PDD Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $103.98 billion and a net profit of $30.75 billion. In comparison, last year the company earned a revenue of $97.06 billion and had a net profit of $32.01 billion