0711 GMT - Full Truck Alliance, a digital freight platform in China that connects shippers with truckers, continues to demonstrate an anti-cyclical trend, Daiwa Capital Markets analysts say in a research report. Most new direct shippers are posting orders on the platform for free, the analysts note. This would lead to the online platform's order density becoming higher than its offline peers, thereby paving the way to increased monetization of truckers for at least next 2-3 years, the analysts say. The company's 4Q revenue guidance with the high end of 24.8% being 10% higher than consensus is also a positive surprise. Daiwa raises the American depositary receipt's target price to US$12.00 from US$11.00 with an unchanged buy rating. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
November 21, 2024 02:11 ET (07:11 GMT)
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