Citi analyst Christian Wetherbee lowered the firm’s price target on TuSimple to $1 from $2 and keeps a Sell rating on the shares. The analyst remains a believer in the company’s technology but thinks recent developments such as the delayed adoption timeline, litigation risk, and tightening credit conditions will put more stress on TuSimple’s existing financial condition and postpone its commercial deployment.
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Read More on TSP:
- TuSimple reports Q2 EPS (36c), consensus (58c)
- TuSimple Announces First Half 2023 Results
- TuSimple reports Q4 EPS (61c), consensus (57c)
- TuSimple Announces Fourth Quarter 2022 Results and Business Updates
- TuSimple receives expected notice from Nasdaq over delayed 10-Q filing
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