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Truist Securities started off coverage on TuSimple Holdings (NASDAQ:TSP) with a Buy rating.
The firm called TuSimple (TSP) a leader in the emerging autonomous trucking space both for its technology and place in defining a pragmatic commercialization strategy to penetrate the $800B U.S. truck freight market.
Analyst Jordan Levy: “While recognizing that growth remains out of favor in today’s mkt, we believe TSP’s current valuation fails to reflect the company’s massive TAM opportunity, blue-chip partnership network, & progress toward commercialization.”
Levy and team also point to a potential China divestiture as a near-term catalyst with that leading to meaningful organizational/ and cost benefits.
Truist assigned a price target of $12 to TSP rep more than 50% upside potential. Shares of TSP trade below their 50-day, 100-day, and 200-day moving averages.
