Full Truck Alliance shares rise after JPMorgan upgrades rating and boosts earnings growth forecast.
Full Truck Alliance (YMM) climbed more than 3% in early trading after JPMorgan upgraded the stock to Overweight from Neutral. The firm raised its price target to $10 from $8.80 and increased its longer-term earnings growth forecast.
Prior to the upgrade, the stock had traded near the $8.80 target set by JPMorgan. The brokerage’s revised outlook reflects improved confidence in the company’s growth trajectory.
Shares responded positively to the announcement, extending gains in pre-market activity.