Daiwa Moves PDD Holdings (PDD) to Hold

On June 24, 2026, Daiwa downgraded PDD Holdings Inc. (NASDAQ:PDD) to Hold from Buy with a terms people of $80, down from $145. Daiwa said China's 2026 6.18 buying festival "delivered a antagonistic surprise," with wide gross merchandise worth up lone 0.9% year-over-year versus a 15% summation successful 2025, according to Syntun. The steadfast said the information confirms a "weak" e-commerce depletion inclination successful China and cited a "tough" macro backdrop, tightening regulations, a scaled-back nationalist trade-in program, and a precocious basal arsenic limits connected assemblage growth.

On June 15, BofA lowered its terms people connected PDD Holdings to $113 from $140 and kept a Neutral rating. BofA lowered its 2026-27 gross forecasts by 6% and adjusted its nett net presumption by 21%-22% to bespeak elevated ecosystem investments, including merchant postulation support, committee rebates, and platform-funded coupons booked arsenic contra revenue.

Last month, Benchmark expert Fawne Jiang lowered the firm's terms people connected PDD Holdings to $127 from $160 and kept a Buy standing aft the institution reported "disappointing" Q1 results. Jiang said monetization appears to beryllium taking a backseat arsenic the institution prioritizes ecosystem health, and said the banal is apt to stay successful the "penalty box" adjacent word until investors summation amended visibility into net normalization. Jiang added that valuation has "become progressively compelling."

PDD Holdings Inc. (NASDAQ:PDD) is simply a multinational commerce radical that operates Pinduoduo and Temu.

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