DA Davidson analyst Matt Summerville lowered the firm’s price target on ChargePoint to $18 from $20 but keeps a Buy rating on the shares. The analyst is reducing his forward revenue expectations, which he believes to be more than offset by an acceleration in economies of scale as ChargePoint builds operational momentum and re-prioritizes spend following completion of a major hardware development life cycle for its global L2AC platform. Summerville maintains however that the current ChargePoint share levels are "attractive".
Published first on TheFly
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