Benchmark analyst Fawne Jiang reiterated a Buy rating and $160.00 price target on Pinduoduo Inc. (NASDAQ: PDD).

The analyst commented, "Despite mixed 4Q results, we are incrementally positive on PDD’s outlook. The company saw substantial pressure in FY25 as a result of domestic slowdown due to limited benefit from trade-in programs, which in turn weighed on margins, alongside international headwinds from a dynamic trade environment. Heading into FY26, the company will focus on deepening supply chain upgrades coupled with easing trade-in pressure, which should support a normalization in growth and profitability. We therefore anticipate PDD to outpace industry growth, and model low-teens GMV growth domestically. Furthermore, Temu should continue to grow solidly, particularly in core European markets, while the U.S. business is likely to prioritize breakeven and operational efficiency. Overall, we see a backdrop of improving growth quality, with supply chain–driven value creation, disciplined monetization, and ongoing efficiency gains underpinning a more sustainable earnings trajectory, although risks remain from regulatory and trade policy uncertainties across key markets, execution challenges in supply chain transformation and international localization."

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Shares of Pinduoduo Inc. closed at $102.61 yesterday.