Blink Charging price target lowered to $25 from $50 at H.C. Wainwright

H.C. Wainwright analyst Sameer Joshi lowered the firm’s price target on Blink Charging to $25 from $50 and keeps a Buy rating on the shares. The firm cites changes to some of its assumptions related to the current macroeconomic, regulatory, and geopolitical environment for the price target decrease. Blink’s revenue growth during Q3 was mainly driven by 163% y/y growth in product sales and 207% y/y growth in charging revenues, and the integration of its international networks under the Blink Network umbrella should not only result in cost synergies now, but also help in implementing feature updates and modifications in the future, the analyst tells investors in a research note.