US Tiger analyst Bo Pei downgraded PDD Holdings (PDD) to Hold from Buy with an unchanged price target of $130 following the company’s report of below-consensus Q4 revenue and profit. Q4 revenue grew 24% year-over-year, decelerating from 44% in Q3, and the growth rate was 2% and 3% below Tiger’s and the Street’s forecasts, notes the analyst, who says the combination of slowing growth and rising investments creates “near-term uncertainty.”
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