Full Truck Alliance initiated with an Overweight at Morgan Stanley

Morgan Stanley analyst Eddy Wang initiated coverage of Full Truck Alliance with an Overweight rating and $9 price target. The analyst likes Full Truck’s “leading position” in China’s digital freight market. The company’s online transaction commission business model is a key driver of revenue and earnings growth over the long term, the analyst tells investors in a research note. The firm sees “good value and upside potential” at current share levels.