Temu Parent PDD Surges on Q4 Earnings Beat

KEY TAKEAWAYS American depositary receipts (ADRs) of PDD Holdings, the parent company of online discount retailer Temu, rose in early trading Wednesday after a fourth-quarter earnings beat,The company posted quarterly revenue and income above estimates, and more than double the figures it reported in the year-ago period.Jefferies analysts reiterated a "buy" rating on PDD in a note following the earnings report's release, with a price target of $157. American depositary receipts (ADRs) of PDD Holdings (PDD), ...