$TuSimple (TSP.US)$ TuSimple (NASDAQ:TSP) +2% pre-market as ...
$TuSimple(TSP.US$ TuSimple (NASDAQ:TSP) +2% pre-market as analysts weigh in after the company's successful trip by an autonomous truck, which traveled 80 miles on public roads in Arizona without a human driver.
The stock exploded higher yesterday on the initial news before turning sharply lower, closing -9.2%, but analysts see the test as a major milestone for the company.
The successful test is an "affirmation of TuSimple's leadership position in the autonomous trucking space," Needham analysts say in maintaining their Buy rating and $60 price target.
The test clears "a critical catalyst for the stock and autonomous trucking, in general," says Morgan Stanley, which rates the shares at Outperform with a Street-high $75 price target, according to Bloomberg.
TuSimple achieved "a major milestone," says J.P. Morgan, which also foresees a positive catalyst from next week's CES event, where CEO Cheng Lu will discuss the future of autonomous trucking.
The stock exploded higher yesterday on the initial news before turning sharply lower, closing -9.2%, but analysts see the test as a major milestone for the company.
The successful test is an "affirmation of TuSimple's leadership position in the autonomous trucking space," Needham analysts say in maintaining their Buy rating and $60 price target.
The test clears "a critical catalyst for the stock and autonomous trucking, in general," says Morgan Stanley, which rates the shares at Outperform with a Street-high $75 price target, according to Bloomberg.
TuSimple achieved "a major milestone," says J.P. Morgan, which also foresees a positive catalyst from next week's CES event, where CEO Cheng Lu will discuss the future of autonomous trucking.
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coffee life OP : TuSimple (NASDAQ: TSP) +2% pre-launch price was weighed by analysts after the company successfully drove an unmanned autonomous truck for 80 miles on public roads in Arizona.
The stock soared yesterday after the initial news was announced, then fell sharply, closing at -9.2%, but analysts consider this test an important milestone for the company.
Analysts Needham said the successful test “confirmed TuSimple's leadership position in autonomous freight” and maintained their buy rating and $60 price target.
According to Bloomberg, Morgan Stanley said the test was “a key catalyst for stocks and autonomous trucking in general,” and the company rated these stocks as outperforming the market, with a target price of $75.
J.P. Morgan said Tusimple has achieved “an important milestone” and expects next week's CES event to have a positive impetus. At that time, CEO Zheng Lu will discuss the future of autonomous trucking.
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