JPMorgan Lowers Pinduoduo Price Target Amid Market Volatility
Pinduoduo's (NASDAQ:PDD) price target was lowered by JPMorgan Chase & Co. from $110.00 to $95.00 in a report released on Thursday, according to MarketBeat.
The brokerage currently has a 'neutral' rating on the stock. This price target suggests a potential upside of 21.89% from PDD's current price of $77.94.
Pinduoduo had posted its earnings results on August 14th, with EPS of $2.84 and revenue of $16.54 billion for the quarter.