2024-05-15 23:01:50 ET
Summary
- PDD via Pinduoduo is a Chinese marketplace that directly connects producers with retail customers and has achieved significant growth and profitability in a short time frame.
- PDD launched Temu in 2022 to connect Chinese manufacturers to international consumers.
- While China stocks are fraught with risk, PDD's valuation at 0.5x PEG is hard to ignore, especially in light of stellar growth and execution.
- A consensus price target of US$181 provides for 29% upside at 0.7x PEG on 40% EPS growth for 2024.
Summary
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PDD Holdings: Too Cheap To Ignore