JPMorgan analyst Karen Li upgraded Full Truck Alliance (YMM) to Neutral from Underweight with an unchanged price target of $8. The firm cites valuation for the upgrade with the shares down 23% year-to-date and close to the price target The selloff has largely priced in the company’s regulatory headwinds and business model adjustments, the analyst tells investors in a research note. JPMorgan now sees the stock’s risk/reward as more balanced.
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