PDD Holdings price target lowered to $140 from $142 at BofA

BofA analyst Joyce Ju lowered the firm’s price target on PDD Holdings (PDD) to $140 from $142 and keeps a Neutral rating on the shares. Total 2024 revenues were up 59% year over year, with Q4 revenue up 24% year over year, but 5% below consensus due to slowing marketing revenues, and a double digit decline in China marketplace commissions, the analyst tells investors in a research note. Management remains committed to invest in consumer experiences, merchant supports, platform ecosystem development, and global corporate social responsibility, the firm says.