UBS analyst Robert Jamieson downgraded Wallbox to Neutral from Buy with a price target of $3, down from $5, after assuming coverage of the name. The analyst views the shares as appropriately priced and sees the risk/reward as balanced. The firm expects the company to reach breakeven adjusted EBITDA in 2025 versus the Street in 2024. UBS believes the shares will be range bound until management can show more consistency between public messaging and execution.
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