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Fly News Breaks for April 17, 2019
PDD
Apr 17, 2019 | 08:07 EDT
As previously reported, KeyBanc analyst Hans Chung started coverage of Pinduoduo with an Overweight rating and a $32 price target. Despite controversy on the company's room for growth and profitability potential, the analyst views Pinduoduo as a solid investment given that it is the second largest e-commerce platform in China by customer and merchant scales, which presents sizeable monetization potential, and its social team-purchase model that helps itself capitalize on value created by streamlining the retail value chain.
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