ChargePoint price target lowered to $26 from $40 at Oppenheimer

Oppenheimer analyst Colin Rusch lowered the firm’s price target on ChargePoint to $26 from $40 and keeps an Outperform rating on the shares. Rusch is encouraged by several elements of ChargePoint’s results, telling investors in a research note that commentary on incremental component supply and completion of product redesigns points to improving gross margin. The firm’s estimates are essentially unchanged as Rusch sees the company executing well against a compelling opportunity set.