Daiwa Moves PDD Holdings (PDD) to Hold

PDD Holdings Inc. (NASDAQ:PDD) is one of the 10 Fastest Growing Asian Stocks to Buy Now.

On June 24, 2026, Daiwa downgraded PDD Holdings Inc. (NASDAQ:PDD) to Hold from Buy with a price target of $80, down from $145. Daiwa said China’s 2026 6.18 shopping festival “delivered a negative surprise,” with overall gross merchandise value up only 0.9% year-over-year versus a 15% increase in 2025, according to Syntun. The firm said the data confirms a “weak” e-commerce consumption trend in China and cited a “tough” macro backdrop, tightening regulations, a scaled-back national trade-in program, and a high base as limits on sector growth.

On June 15, BofA lowered its price target on PDD Holdings to $113 from $140 and kept a Neutral rating. BofA lowered its 2026-27 revenue forecasts by 6% and adjusted its net profit view by 21%-22% to reflect elevated ecosystem investments, including merchant traffic support, commission rebates, and platform-funded coupons booked as contra revenue.

Daiwa Moves PDD Holdings (PDD) to Hold

Last month, Benchmark analyst Fawne Jiang lowered the firm’s price target on PDD Holdings to $127 from $160 and kept a Buy rating after the company reported “disappointing” Q1 results. Jiang said monetization appears to be taking a backseat as the company prioritizes ecosystem health, and said the stock is likely to remain in the “penalty box” near term until investors gain better visibility into earnings normalization. Jiang added that valuation has “become increasingly compelling.”

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

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