0803 GMT - Temu owner PDD Holdings is facing several uncertainties amid trade tensions, Citi analysts led by Alicia Yap say in a research note. While front-loading demand ahead of tariff hikes could temporarily boost Temu's sales in the U.S., revenue contribution from the market will likely continue to decline, they say. The e-commerce company's traffic and traction in Southeast Asia, South Korea and Japan also seem more subdued, the analysts add. Though revenue contribution from Europe and Brazil will likely grow, PDD's share price is likely to remain range-bound until market participants get more clarity on the impact of tariffs and reassurance on how the retailer is mitigating risks of Chinese companies being delisted in the U.S. Citi maintains a neutral/high-risk rating on the stock and cuts its target to $127.00 from $150.00. ADRs were last at $104.01. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
April 29, 2025 04:04 ET (08:04 GMT)
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