Land and Expand Pays Off: Analyst Says ChargePoint Poised to Lead EV Charging Revolution
Portfolio Pulse from Lekha Gupta
Benchmark analyst Mickey Legg initiated coverage on ChargePoint Holdings, Inc. (NYSE:CHPT) with a Buy rating and a price target of $4.25, citing its industry-leading charging network and potential for growth amid the EV market expansion. ChargePoint's strategy and new partnerships, such as with AcBel Polytech for developing EV charging solutions, are highlighted alongside projections for revenue growth and reduced EPS loss from 2024 to 2026. However, shares dropped 3.16% to $1.9950 recently.
February 21, 2024 | 6:07 pm
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ChargePoint Holdings, Inc. received a Buy rating and a $4.25 price target from Benchmark analyst Mickey Legg, highlighting its strong position in the EV charging market and future growth prospects. The company also entered a partnership with AcBel Polytech for EV charging solutions.
The Buy rating and positive outlook from the analyst, along with the strategic partnership with AcBel Polytech, indicate strong growth prospects for ChargePoint. However, the recent drop in share price suggests market reactions may vary short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100