Full Truck Alliance upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst Karen Li upgraded Full Truck Alliance (YMM) to Overweight from Neutral with a price target of $18, up from $13. The firm says the company has “captured the market’s attention with its unexpectedly bullish guidance” fiscal 2025, signaling a “transformative year ahead.” Full Truck’s guidance, particularly its focus on margin expansion and operational efficiency, has set the stage for faster earnings growth, the analyst tells investors in a research note. JPMorgan believes all the company’s positives are yet to be fully priced into the shares. It sees upside potential as Full Truck Alliance continues to refine its business model.