Morgan Stanley bullish on Pinduoduo shares for its innovative e-commerce strategy
Investing.com | Editor Emilio Ghigini
Published Feb 28, 2024 05:26AM ET
On Wednesday, Morgan Stanley reaffirmed its Overweight rating on shares of Pinduoduo Inc. (NASDAQ:PDD), with a price target set at $181.00. The firm announced the closure of its previously published Research Tactical Idea on the company.
The statement issued by Morgan Stanley emphasized that the tactical idea, which was originally published on January 30, 2024, has been discontinued with immediate effect and should not be considered for future reference.
The reiteration of the Overweight rating by Morgan Stanley suggests continued confidence in Pinduoduo's stock performance. The $181.00 price target remains unchanged, indicating the firm's expectation of the stock's potential to reach this valuation.
Pinduoduo Inc., listed on the NASDAQ, is known for its innovative approach to e-commerce in China, combining social elements with online shopping. The company has been a subject of interest for investors looking to tap into the rapidly growing digital economy in China.
The firm has not provided any additional directives or insights beyond the closure of the tactical idea and the reaffirmation of the stock's rating and price target.
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