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Fly News Breaks for September 10, 2019
BABA, PDD
Sep 10, 2019 | 13:04 EDT
BofA Merrill Lynch analyst Joyce Ju said her proprietary price point checks on some products across Chinese e-commerce platforms, including Alibaba's (BABA) Taobao, support the assumption of a stabilized competitive landscape and less aggressive promotion in Q3. The easing price competition should give Pinduoduo (PDD) more budget flexibility and room for moderate margin upside in non-peak season, according to Ju, who raised her price target on the stock to $39 from $34. She maintains a Buy rating on Pinduoduo.