Citi Lowers PT on PDD Holdings to $142, Keeps Neutral Rating Ahead of Q4 2025 Earnings

Group 1 - PDD Holdings Inc. is one of the Top 15 Chinese Companies listed on US Exchanges [1] - Citi has lowered the price target for PDD Holdings from $170 to $142, maintaining a Neutral rating, which still implies over 35% upside potential as of January 28 [1][2] - Of the 44 analysts covering PDD, 68% rate the stock as Buy, 30% as Hold, and 2% as Sell, with a median price target of $151.29 indicating an upside of almost 44% [2] Group 2 - Alicia Yap from Citi downgraded the price target ahead of the Q4 2025 earnings release, citing slowing domestic retail sales as a factor offsetting the recovery of Temu U.S. traffic [2] - Higher expenses are expected to impact PDD Holdings' profitability in 2026 [2] - The company received a fine of ¥100,000 from the State Taxation Administration of Shanghai, which was considered 'smaller-than-feared,' removing uncertainty and clearing negative factors affecting the share price [3] Group 3 - PDD Holdings operates two well-known e-commerce brands, Pinduoduo and Temu [3]