PDD Crosses Above Average Analyst Target
August 22, 2019 at 08:45 AM EDT
In recent trading, shares of Pinduoduo Inc (PDD) have crossed above the average analyst 12-month target price of $28.96, changing hands for $30.11/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level..