ChargePoint price target lowered to $17 from $25 at Stifel

Stifel lowered the firm’s price target on ChargePoint to $17 from $25 and keeps a Buy rating on the shares. The firm is updating its models on a trio of EV charging names to reflect data points that impact EV adoption, including the new IRS standards that Stifel believes could be "a modest headwind" for EV adoption rates. ChargePoint (CHPT) continues to be the firm’s favorite EV charging name due to its capital-light business model and the likelihood it turns EBITDA and FCF positive sooner than peers, the analyst noted.