JPMorgan downgraded Full Truck Alliance (YMM) to Neutral from Overweight with a price target of $13, up from $12. The firm cites valuation for the downgrade following the stock’s recent rally. Full Truck shares are up 70% year-to-date, which reflects much of its positive outlook, the analyst tells investors in a research note. JPMorgan recommends taking profits at current share levels.
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