PDD Shares Have Room to Rise as Worst Already Priced In -- Market Talk

0435 GMT - PDD Holdings' stock has room to rise as the worst has been priced in, according to Deutsche Bank analyst Peter Milliken in a research note. "The company has net cash equivalent to 72% of market cap... the valuation is too attractive for us to look past," DB says. DB's concerns regarding lack of shareholder returns and insufficient transparency remain, the analyst says. The company is coming under regulatory pressure across its key markets which may cap earnings, but substantially lower earnings are priced in, DB says. DB upgrades PDD to buy from hold, with a target price for its ADRs set at US$105.00. Its ADRs last traded at US$79.28. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

October 30, 2026 00:35 ET (04:35 GMT)