ChargePoint's Asset-Light Strategy: Analyst On What It Means For Future Revenue And EPS
Portfolio Pulse from Lekha Gupta
RBC Capital Markets analyst Chris Dendrinos initiated coverage on ChargePoint Holdings Inc (NYSE:CHPT) with an Outperform rating and a price target of $9. Dendrinos sees CHPT as the market leader in level 2 charging solutions in the U.S. with a 45% market share. The analyst is bullish on CHPT's strategy and believes it is well positioned to capitalize on the opportunity from EV adoption rates and charging infrastructure demand. CHPT shares are trading lower by 8.5% at $5.76.
September 08, 2023 | 6:37 pm
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ChargePoint has been given an Outperform rating by RBC Capital Markets analyst Chris Dendrinos, who sees the company as a market leader in level 2 charging solutions. The company's shares are currently trading lower.
The Outperform rating given by the analyst indicates a positive outlook for the company. This, combined with the company's strong market position, could lead to an increase in the company's stock price. However, the current trading price is lower, which may be due to other market factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100