The target price for Citibank's Bubble Mart has been raised by nearly 25%.

Citibank raised its profit forecast for Pinduoduo and raised its target price from HK$308 to HK$384.5. It is expected that the company will continue to maintain growth momentum in the second half of the year, driven by the popularity of IPs, overseas expansion, replenishment, and new product launches. Citibank stated that the recent pullback in stock prices has made the valuation more attractive and provided a good entry opportunity.