Goldman Sachs Reaffirms Bullish Outlook on Pinduoduo: Q2 Growth Among the Fastest

With a P/E ratio below 10x, market concerns seem to have been priced in, and Temu has not yet been fully valued.

Goldman Sachs remains bullish on Pinduoduo, highlighting that the P/E ratio below 10x reflects concerns over increasing domestic competition and geopolitical issues surrounding Temu. Despite these challenges, Temu’s growth momentum continues, and Goldman gives Pinduoduo a “buy” rating with a 12-month price target of $184.