As previously reported, Benchmark initiated coverage of Blink Charging with a Buy rating and $5 price target. Blink Charging, which manufactures, sells, and owns/operates primarily level 2 networked electric vehicle charging equipment, is “well-positioned” with a focus on Level 2 chargers, which is expected to be 90% of the market, the analyst tells investors. The firm also likes Blink’s “menu of flexible business models” and its network focus, which it believes will provide a growing base of recurring revenues over time.
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