Shares in PDD the budget online retail group that owns China’s Pinduoduo and the U.S. platform Temu, shot higher in 2023 but have languished so far this year. It could be a good time to buy the stock, according to analysts at Jefferies. PDD stock rallied last year, vastly outperforming Chinese e-commerce peers like Alibaba and JD.com as price-conscious shoppers flocked to Pinduoduo amid China’s economic slowdown and Temu made significant inroads into the U.S. market.