Full Truck Alliance price target lowered to $10 from $11.21 at Bernstein

Bernstein lowered the firm’s price target on Full Truck Alliance to $10 from $11.21 and keeps an Outperform rating on the shares following solid results. Top-line grew by 25% year-over-year in Q3 and the firm forecasts Q4 will be at the management’s top-end guidance of 19% year-over-year, with its adjusted net margin to reach 28% in Q4 and a year-over-year earnings growth of 46%.