Rating Quick Look: Pinduoduo's target price significantly raised! Apple faces price cuts.

Jefferies: Upgrades Pinduoduo to "Buy" with a target price raised from $117 to $157

The report points out that Pinduoduo has successfully attracted a large number of consumers and stood out in the fiercely competitive e-commerce market with its unique social e-commerce model and innovative marketing strategies. At the same time, the company actively invests in technology research and development, optimizes user experience, improves service quality, and further consolidates its market position.

In addition, Jefferies also emphasizes Pinduoduo's advantages in cost control and profitability, which is one of the important reasons why the bank is optimistic about its future development.

Citi: Maintains "Buy" rating for Apple, lowers target price from $225 to $220

Based on the bank's investigation of the supply chain and market data so far this quarter, it has updated its forecast model for Apple and lowered the group's sales forecast in China for the quarter ending in March by about 400,000 units, with a year-on-year decline expanding from the original estimate of 17% to 21%. This mainly reflects the continued weak consumer confidence and the trend of using domestic products.

The bank's latest expectation is that Apple's sales for the year will remain flat, and the stock is expected to remain under pressure during the Worldwide Developers Conference (WWDC) in June, while AI (artificial intelligence) catalysts are expected to drive demand for related smartphones next year.

Rosenblatt: Maintains "Buy" rating for Qualcomm, raises target price from $170 to $200

The bank states that Qualcomm's Snapdragon system-on-chip (SoC) may lead the market for the next generation of computing platforms, as it may help drive the development of edge artificial intelligence (AI) (referring to the use of machine learning algorithms in the form of AI directly running on edge devices).

Analysts indicate that recent data shows that shipments of the Samsung Galaxy S24 using the Snapdragon 8 Gen3 are 13% higher than the S23 last year and 47% higher than the S22. Analysts also point out that the Snapdragon X Elite for personal computers is expected to be launched in the coming months. Analysts further note that Qualcomm's stock is discounted by nearly 40% compared to the Philadelphia Semiconductor Index.

Daiwa: Reiterates "Buy" rating for Baidu Group-SW, slightly raising target price from HK$152 to HK$153

The bank has raised Baidu's revenue forecast for 2024 to 2026 by 1 to 2% and increased its profit forecast for the same period by 2 to 3%.