YMM - Full Truck Alliance: Turning Positive On Results Beat And Attractive Shareholder Yield (Rating Upgrade)

2024-05-24 12:03:44 ET

Summary

• Full Truck Alliance's Q1 2024 financial results were better than expected, with its top line and bottom line expanding by +33% and +50%, respectively on YoY terms.
• YMM's potential shareholder yield could be as high as 4.5% as per my estimates.
• I revise my rating for the stock from a Hold to a Buy, following an evaluation of the company's financial performance and shareholder capital return.

Elevator Pitch

My investment rating for Full Truck Alliance Co. Ltd. ( YMM ) stock is a Buy.

Earlier, I touched on Full Truck Alliance's Q4 2023 financial performance in my prior write-up published on March 10, 2024. This latest article reviews YMM's Q1 2024 financial results and analyzes the company's shareholder capital return....

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