PDD's Valuation Takes Hit From Competition, Temu's Expansion Cost -- Market Talk

Dow Jones

2024-11-25

0350 GMT - PDD's fair value estimate is lowered 11% by Morningstar amid fierce domestic competition and its overseas marketplace Temu's expansion costs. Among China's e-commerce companies, Morningstar prefers JD.com over PDD as the former is a bigger beneficiary of China's home-appliance trade-in program and has implemented share buyback and dividend programs to reward shareholders, analyst Chelsey Tam says in a research note. "Considering Temu is still growing rapidly, we don't expect PDD to return capital to shareholders in the next three years," she says. Alibaba is Morningstar's least favorite Chinese e-commerce stock due to uncertainty of profitability outlook amid heavy investment. PDD's ADR last ended at US$100.07. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

November 24, 2024 22:50 ET (03:50 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Among China's e-commerce companies, Morningstar prefers JD.com over PDD as the former is a bigger beneficiary of China's home-appliance trade-in program and has implemented share buyback and dividend programs to reward shareholders, analyst Chelsey Tam says in a research note. \"Considering Temu is still growing rapidly, we don't expect PDD to return capital to shareholders in the next three years,\" she says. Alibaba is Morningstar's least favorite Chinese e-commerce stock due to uncertainty of profitability outlook amid heavy investment. PDD's ADR last ended at US$100.07. 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Among China's e-commerce companies, Morningstar prefers JD.com over PDD as the former is a bigger beneficiary of China's home-appliance trade-in program and has implemented share buyback and dividend programs to reward shareholders, analyst Chelsey Tam says in a research note. \"Considering Temu is still growing rapidly, we don't expect PDD to return capital to shareholders in the next three years,\" she says. Alibaba is Morningstar's least favorite Chinese e-commerce stock due to uncertainty of profitability outlook amid heavy investment. PDD's ADR last ended at US$100.07. (sherry.qin@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 24, 2024 22:50 ET (03:50 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1956131251.USD","symbol_name":"BNP PARIBAS SUSTAINABLE ASIA EX-JAPAN EQUITY \"C\"MD (USD) INC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2486639725","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486639725","pubTimestamp":1732506600,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0350 GMT - PDD's fair value estimate is lowered 11% by Morningstar amid fierce domestic competition and its overseas marketplace Temu's expansion costs. Among China's e-commerce companies, Morningstar prefers JD.com over PDD as the former is a bigger beneficiary of China's home-appliance trade-in program and has implemented share buyback and dividend programs to reward shareholders, analyst Chelsey Tam says in a research note. \"Considering Temu is still growing rapidly, we don't expect PDD to return capital to shareholders in the next three years,\" she says. Alibaba is Morningstar's least favorite Chinese e-commerce stock due to uncertainty of profitability outlook amid heavy investment. PDD's ADR last ended at US$100.07. 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Among China's e-commerce companies, Morningstar prefers JD.com over PDD as the former is a bigger beneficiary of China's home-appliance trade-in program and has implemented share buyback and dividend programs to reward shareholders, analyst Chelsey Tam says in a research note. \"Considering Temu is still growing rapidly, we don't expect PDD to return capital to shareholders in the next three years,\" she says. Alibaba is Morningstar's least favorite Chinese e-commerce stock due to uncertainty of profitability outlook amid heavy investment. PDD's ADR last ended at US$100.07. (sherry.qin@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 24, 2024 22:50 ET (03:50 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0}}}