What happened Shares of Pinduoduo (NASDAQ: PDD) popped as much as 14% today after getting a bullish initiation from Wall Street. Bernstein commenced coverage of Pinduoduo with an outperform rating and assigned a price target of $210, which represents 22% upside from Friday's closing price. As of 11:10 a.m. EST, the stock had pulled back and was up 6%. So what Analyst Robin Zhu is optimistic that the Chinese e-commerce technology company can continue to beat out its brick-and-mortar rivals that primarily operate offline, thanks to its deep pockets and the copious amount of user data that it has collected. Image source: Getty Images. "Armed with generous access to capital, massive troves of data, and access to consumers via push notifications, our companies have long track records of creating new markets," the analyst wrote in a research note to investors. "We expect them to continue to out-compete and out-spend offline rivals, and project strong growth across most key end markets." Now what E-commerce is expected to be among the most intensely competitive area for Chinese tech companies, as gross merchandise value (GMV) in China is forecast to grow at a compound annual growth rate (CAGR) of 17.8% over the next five years. Pinduoduo will be competing to steal share from dominant e-commerce giant Alibaba. Consumers are also expected to start buying more groceries online. Pinduoduo has been enjoying strong growth, with revenue in the third quarter jumping by 89%. The company now has 731 million active buyers on its platform. 10 stocks we like better than Pinduoduo Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Pinduoduo Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Evan Niu, CFA owns shares of Alibaba Group Holding Ltd. The Motley Fool owns shares of and recommends Alibaba Group Holding Ltd. The Motley Fool has a disclosure policy.Source