Trump says working groups to study practices of U.S.-listed Chinese companies 14:5505/2905/29/20
SPY, SPX, BABA, JD, PDD, BIDU
|Over a week ago|
Pinduoduo downgraded to Equal Weight on valuation at Barclays » 05:5805/2705/27/20
Barclays analyst Gregory…
Barclays analyst Gregory Zhao downgraded Pinduoduo to Equal Weight from Overweight with a price target of $60, up from $43. While the company reported "very strong" active buyer and revenue growth Q1, its stock price increased 72% year-to-date, reaching the bull case of the investment thesis, Zhao tells investors in a research note.
Pinduoduo downgraded to Equal Weight from Overweight at Barclays » 05:3705/2705/27/20
Barclays analyst Gregory…
Barclays analyst Gregory Zhao downgraded Pinduoduo to Equal Weight from Overweight with a $60 price target.
Pinduoduo price target raised to $85 from $65 at KeyBanc » 08:0505/2605/26/20
KeyBanc analyst Hans…
KeyBanc analyst Hans Chung raised the firm's price target on Pinduoduo to $85 from $65 and keeps an Overweight rating on the shares. The analyst notes that despite disruptions on fulfillment during mid-Q1 because of COVID-19, the company posted remarkable growth in Gross Merchandise Volume and revenue, implying accelerated share gain, which was driven by strong growth in active buyers and purchase frequency. Chung believes COVID-19 has enhanced the flywheel effect of improving supply side and increasing consumer demand. He continues to view Pinduoduo as better positioned in this environment given its value-for-money nature and accelerated online penetration.
Pinduoduo downgraded to Hold from Buy at China Renaissance » 07:3805/2605/26/20
China Renaissance analyst…
China Renaissance analyst Charlie Chen downgraded Pinduoduo to Hold from Buy with a $59 price target.
Pinduoduo price target raised to $76 from $38 at Benchmark » 06:5805/2605/26/20
Benchmark analyst Fawne…
Benchmark analyst Fawne Jiang raised the firm's price target on Pinduoduo to $76 from $38 and keeps a Buy rating on the shares after the company reported mixed Q1 results, including solid GMV growth on the back of both buyer and ARPU expansion, despite COVID disruptions. Structural changes in the retail industry post COVID-19, as well as the company's large user base, should benefit the company's longer-term growth outlook, contends Jiang.
Pinduoduo price target raised to $66 from $33.40 at Nomura Instinet » 06:1405/2605/26/20
Nomura Instinet analyst…
Nomura Instinet analyst Jialong Shi raised the firm's price target on Pinduoduo to $66 from $33.40 and keeps a Neutral rating on the shares following the company's "mixed" Q1 results.
Pinduoduo downgraded to Hold from Buy at Jefferies » 08:3105/2505/25/20
Jefferies analyst Thomas…
Jefferies analyst Thomas Chong downgraded Pinduoduo to Hold from Buy with a price target of $62.50, up from $40.30. Goldman Sachs yesterday also downgraded the shares.
Pinduoduo downgraded to Neutral from Buy at Goldman Sachs » 19:2305/2405/24/20
Goldman Sachs analyst…
Goldman Sachs analyst Piyush Mubayi downgraded Pinduoduo to Neutral from Buy with a price target of $62.70, up from $54. The stock closed Friday up $8.70 to $68.70. After rallying 239% in the past year, shares of Pinduoduo reflect its "unique value proposition" to online shoppers in China, Mubayi tells investors in a research note. The analyst remains positive on the company's longer-term earnings growth outlook and believes it remains well positioned to capture the "continuous rising tide" in e-commerce post COVID-19. However, Mubayi sees "limited valuation attraction" at current share levels.
Pinduoduo price target raised to $72 from $46.50 at CLSA » 15:2205/2205/22/20
CLSA raised the…
CLSA raised the firm's price target on Pinduoduo to $72 from $46.50 and keeps a Buy rating on the shares following the company's Q1 results. The firm said that Pinduoduo's strategic cooperation with Gome should boost its electronics and appliances offering. The firm added that GMV growth could further accelerate with growing large-ticket electronics sales, and Q2 will likely benefit from strong revenue with positive operating leverage.