Fly News Breaks for January 21, 2020
Jan 21, 2020 | 07:15 EDT
KeyBanc analyst Hans Chung raised his price target for Pinduoduo to $50 from $45, while maintaining an Overweight rating on the shares. The analyst thinks revenue will be higher, but profitability will be lower in 2020 given an increasing mix in branded/subsidized GMV. That said, he would expect a larger profit in 2021 as the cohort ages on the larger customer base.
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