Why ChargePoint (CHPT) Stock Is Rising
Portfolio Pulse from Henry Khederian
ChargePoint Holdings Inc (CHPT) shares are trading higher after UBS initiated coverage on the stock with a Buy rating and a $9 price target. UBS highlighted CHPT's significant presence in Level 2 chargers in North America, a deep customer base, and the expectation of reaching break-even EBITDA by fiscal fourth-quarter 2025. UBS also forecasts strong growth in EV charging demand, supported by EV adoption trends.
September 27, 2023 | 7:14 pm
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UBS initiated coverage on ChargePoint with a Buy rating and a $9 price target, citing its significant presence in Level 2 chargers, deep customer base, and expected break-even EBITDA by Q4 2025. This positive outlook could drive the stock price up in the short term.
UBS's positive outlook on ChargePoint, including a Buy rating and a $9 price target, is likely to increase investor confidence in the stock. This, combined with the company's strong presence in Level 2 chargers and expected break-even EBITDA by Q4 2025, could drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100