10 Stocks Lead Wednesday’s Charge, Mirror Broader Gains

5. Full Truck Alliance Co. Ltd. (NYSE:YMM)

Full Truck Alliance rose for a second day on Wednesday, jumping 13.62 percent to finish at $13.26 apiece as investors cheered the company’s upgraded rating from an investment bank despite posting mixed earnings performance last year.

On Wednesday, Morgan Stanley raised YMM’s price target to $15 from $4 previously, representing a 10-percent upside from its latest stock price.

It also maintained an “overweight” rating for the company, signaling a positive outlook.

While YMM saw lower net income in the fourth quarter of the year, net profit, however, went higher on a full-year basis.

Morgan Stanley said the updated rating was based on its optimism about YMM’s future, particularly from the strategic shift in its revenue composition by reducing reliance on lower-margin freight brokerage business that is expected to enhance its profit margins in the future.