Wallbox price target lowered to $14 from $20 at Baird

Baird analyst George Gianarikas lowered the firm’s price target on Wallbox to $14 from $20 and keeps an Outperform rating on the shares. The analyst noted they opened its first North American manufacturing facility in Arlington, TX during the quarter as it continues to expand manufacturing. Although results were lower than estimates, he is encouraged by solid gross margin, the company’s capacity ramp, and its expanding product suite.