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<Research>JPM: Reported Probe on PDD Curbs Upside Potential; Rating Neutral
Recommend 2 Positive 2 Negative 1 |
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Pinduoduo (PDD.US) is reportedly under investigation by Chinese market regulators, and the news has exerted pressure on its stock price, JP Morgan said in its report. Given the company's poor transparency and the unclear nature of the investigation, it is hard to assess the potential impact at this juncture. However, over the past two weeks, Pinduoduo's stock price has already slumped by approximately 13%, partially reflecting this negative news. Although Pinduoduo is currently trading at less than 10x 2025 P/E, which provides some buffer against downside risk due to its low valuation, the overhang may limit the short-term upside potential of the stock price. JPMorgan maintained a Neutral rating on Pinduoduo, with a target price of USD130. AASTOCKS Financial News Website: www.aastocks.com |
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