Wallbox price target lowered to $4 from $8 at Canaccord

Canaccord lowered the firm’s price target on Wallbox to $4 from $8 and keeps a Buy rating on the shares. The firm said their target reduction is to accommodate an increase in their WACC due to recent interest rate changes and modifications to our estimates, and reflect an appreciation for the complexity in integrating the company’s recent savvy ABL acquisition.