bullish
Full Truck Alliance Q124 Results: Strong Financials Match Recent Strong Share Performance - HOLD
316 Views23 May 2024 11:03
Full Truck Alliance posted great Q1 numbers: revenue growth accelerated, margins expanded, and mix improved. But its shares have rallied and the stock is no longer so cheap; we're downgrading to HOLD.
What is covered in the Full Insight:
- Q124 results: Strong top-line growth, expanding core margins.
- Combination of increased orders, CNY/order drove growth.
- Mix improved in Q124, raising 'quality of growth'.
- Great numbers in Q124, but reducing to HOLD on valuation.
- Share performance and future expectations.
SUMMARY
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