Pinduoduo upgraded to Buy at 86Reserach
Toa55/iStock via Getty Images


Pinduoduo (NASDAQ:PDD) shares up following the news that the Chinese government may end its regulatory crackdown on tech companies in an effort to help the suffering economy.
The company's ADRs upgraded to buy from hold at 86Research with a price target of $57, implies a 50% increase from last price.

On March 22, Citigroup reduced PT from $80.00 to $61.00 and set a âbuyâ rating for the company; Benchmark reduced PT from $156.00 to $85; CLSA reduced PT from $100.00 to $81.00; Nomura downgraded shares from a âbuyâ rating to a âneutralâ rating and reduced their price target for the company from $95.00 to $48.00; Barclays reduced PT on shares from $71.00 to $41.00.