US Tiger Securities analyst Bo Pei lowered the price target on Pinduoduo Inc. (NASDAQ: PDD) to $110.00 (from $120.00) while maintaining a Buy rating.

The analyst comments "We are maintaining our HOLD rating and lowering PT to $110 (was $120) after PDD reported 4Q25 results with revenue slightly below expectations, while non-IFRS operating profit was largely in line, reflecting a continuation of the company’s ongoing investment cycle. The quarter further reinforced management’s strategic pivot toward supply chain deepening, with near-term profitability increasingly subordinated to long-term ecosystem development."