TuSimple’s Autonomous Truck Driving Test Was an ‘Unqualified Success’ Added to 2022 portfolio in the selloff...
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TuSimple ‘s fully autonomous semi-truck run last week was called an “unqualifiedsuccess” by analysts at Morgan Stanley, who said the driving test cemented the company’s position as “autonomous leader.”
The test clears a “critical catalyst for the stock and autonomous trucking, in general,” the analysts wrote in a note.
Shares of TuSimple (ticker: TSP) were rising nearly 11% on Thursday to $35.54. They closed down sharply on Wednesday at $32.09.
“We continue to see a 4:1 risk-reward to the upside which we believe now has a much greater likelihood of being unlocked with the ‘binary outcome’ event having been cleared,” the Morgan Stanley analysts wrote. They maintained their Overweight rating on the stock and have
a $75 base case price target on the shares and a $200 bull case.