U.S. stock market anomaly | Pinduoduo (PDD.US) rises over 3%, Citigroup raises target price to $165.

According to the Wisdom Financial APP, on Tuesday, Pinduoduo (PDD.US) surged more than 3% to $120.25. On the news front, a recent research report published by Citigroup pointed out that the recent development of China-US tariff situation is favorable for Chinese cross-border sales merchants, which has a positive impact on the sales of Pinduoduo's international e-commerce platform Temu in the United States. With the tariff burden decreasing, the bank has upgraded Pinduoduo's rating from "Neutral" to "Buy" and raised its target price to $165.