Morgan Stanley lowered its rating and cut its target by 30.2%, signaling a weaker view of PDD. Its new target still implies about 8.4% upside from the cited close, but that possible gain does not outweigh the downgrade and target cut.
That change signals Morgan Stanley sees less room for PDD's shares to rise than before. Its new target still sits about 8% above the cited closing price, but the lower rating points to less confidence despite that possible gain.
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