UPDATE: Baird Starts TuSimple Holdings Inc. (TSP) at Outperform

Baird analyst Ben Kallo initiates coverage on TuSimple Holdings Inc. (NASDAQ: TSP) with a Outperform rating and a price target of $52.00.

The analyst comments "Using our DCF, we generate a $52 price target. We are firm believers that ultimate supremacy of the mobility market will lie with the companies that can dominate the following vectors: 1) autonomy, 2) operating systems, 3) manufacturing, and 4) battery technology. As TuSimple could dominate one of these vectors, we assume its growth opportunity is significant. However, competition is steep, and we need to better understand TuSimple’s strategy around level 5 autonomous — albeit a technology likely available in the distant future."

For an analyst ratings summary and ratings history on TuSimple Holdings Inc. click here. For more ratings news on TuSimple Holdings Inc. click here.

Shares of TuSimple Holdings Inc. closed at $37.29 yesterday.

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