B. Riley Securities Downgrades ChargePoint Hldgs to Neutral, Announces $2.5 Price Target
Portfolio Pulse from Benzinga Newsdesk
B. Riley Securities analyst Christopher Souther has downgraded ChargePoint Holdings (CHPT) from Buy to Neutral and set a new price target of $2.5. This change reflects a revised outlook on the company's stock by the analyst.
December 07, 2023 | 2:02 pm
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ChargePoint Holdings was downgraded by B. Riley Securities from Buy to Neutral with a new price target of $2.5, indicating a more cautious stance on the stock's future performance.
Downgrades by analysts can lead to a negative short-term reaction in the stock market as they often signal a less optimistic view on the company's future earnings potential or market position. The new price target of $2.5 also suggests a lower expected value for the stock, which could influence investor sentiment and stock price.
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