《大行》摩通升拼多多(PDD.US)目标价至125美元 利润可见度不高评级“中性”

阿斯达克财经
Aug 26, 2025

摩根大通发表研究报告指出,尽管拼多多(PDD.US)  次季利润超出预期,但其利润率在今年第三季度可能再次下降,2026年利润可见性仍不明朗。考虑股价已接近年内高位,摩通认为,最佳投资策略是等待更具吸引力的估值作为安全边际,故暂维持该股“中性”评级,目标价由原先105美元升至125美元,相当于预测2026年市盈率10倍。摩通认为,投资者应关注拼多多调整后营运利润率,而非调整后净利润率,因本季度...

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