UBS downgraded Blink Charging (BLNK) to Neutral from Buy with a price target of $2, down from $3. The firm sees a higher probability of slower EV adoption negatively impacting Blink’s product sales outlook, the analyst tells investors in a research note. Following the U.S. Presidential election, there is increasing risk that prospective commercial and fleet customers delay decision making on EV charging equipment purchases given the incrementally worse market sentiment around EV policies and adoption rates, UBS adds.
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