Citi Opens 90-Day Upside Catalyst Watch on Full Truck Alliance Co. Ltd. (YMM)

Citi analyst Alicia Yap reiterated a Buy rating and $12.00 price target on Full Truck Alliance Co. Ltd. (NYSE: YMM).

The analyst comments "FTA’s shipper MAU growth remained decent in Jul and Aug, likely resulting in order volume growth on track at slightly above 20% yoy. With decent order volume growth and yoy improvement on commission penetration & take rate, we see a good chance that FTA might be able to deliver revs growth closer to the high-end of the guidance range at 24.6% yoy, and thanks to strong operating leverage of commission revs, we don’t rule out upside potentials to current 3Q24 earnings consensus of Rmb1.07bn. Hence we open a 90-day positive catalyst watch with the expectation of a solid 3Q24 results."

For an analyst ratings summary and ratings history on Full Truck Alliance Co. Ltd. click here. For more ratings news on Full Truck Alliance Co. Ltd. click here.

Shares of Full Truck Alliance Co. Ltd. closed at $7.64 yesterday.

You May Also Be Interested In

• Seaport Global Securities Starts ADI Global Distribution (ADIG) at Buy
• KeyBanc Reiterates Underweight Rating on Apple (AAPL)
• BMO Capital Reiterates Outperform Rating on Workday (WDAY)