ChargePoint price target lowered to $28 from $34 at R.F. Lafferty

R.F. Lafferty analyst Jaime Perez lowered the firm’s price target on ChargePoint to $28 from $34 and keeps a Buy rating on the shares after the company reported a Q3 net loss that missed consensus by 2c and increased its full-year revenue forecast. His lower price reflects a reduction in the multiple he applies to his revised estimates due to continuing gross margin erosion from supply chain constraints and logistics costs, Perez noted.