TuSimple price target lowered to $1 from $2 at Citi

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.