0831 GMT - PDD Holdings faces strong headwinds on two fronts, Nomura analysts say in a research note. The e-commerce giant, which runs Pinduoduo at home and Temu in the overseas market, has to rebuild its international operation while building strong ties with sellers at home, the analysts say. Nomura estimates Temu's revenue to drop by 2% in FY25 before recovering by 10% in FY26. The analysts maintain a neutral rating on the stock and lowers the target price of its ADRs to US$114.00 from US$130.00. Its ADRs were last traded at US$ 102.98.(tracy.qu@wsj.com)
(END) Dow Jones Newswires
May 28, 2025 04:31 ET (08:31 GMT)
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