Citi: PDD Holdings likely stayed on track in the third quarter
Citi expects PDD Holdings' revenue to rise 8% year on year to 116.9 billion yuan in the third quarter. The buy rating and $136 target are maintained.
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what happened
According to Citi analysts, as reported by Market Talk, PDD Holdings most likely stayed within plan during the third quarter. The bank expects revenue to have grown 8% year on year to 116.9 billion yuan, driven by gains in marketing and transaction services.
Investors are closely watching PDD's moves during Singles' Day, China's largest e-commerce shopping period, which runs from October to November. Citi keeps its buy rating and $136 target price. At the time of the note, PDD's ADRs traded at $79.17.
why it matters
The Citi note sets expectations ahead of PDD's quarterly report. The results of the Singles' Day campaign could shape sentiment around China's e-commerce sector and the company's ADRs on the US market.
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sources
- PDD Holdings Business Likely Remained on Track in 3Q — Market Talk, 23 October 2026 at 04:12 UTC
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