EV charging company Blink Charging Co. (NASDAQ: BLNK) gained in Wednesday’s trading after UBS analyst Robert Jamieson initiated coverage on the stock with a Buy rating and a price target of $7. The analyst commented that the company is capitalizing on its distinctive business model, driven by six acquisitions made since 2020.
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Jamieson pointed out that the firm is strategically transferring acquired chargers onto the Blink Network while streamlining financial reporting and CRM systems. These measures are expected to result in Blink achieving breakeven adjusted EBITDA by 2025, a year ahead of market consensus.
The analyst stated that the stock’s significant decline of 84% over the past year presents a compelling opportunity for investors, with a potential upside of four times the downside risk. This makes the current price point highly attractive.
In another development, Blink announced that it will be installing six Level 2 (L2) chargers at Jon Henry’s General Store in New Market, Virginia.
Is Blink a Buy or Sell?
Analysts are cautiously optimistic about BLNK stock, with a Moderate Buy consensus rating based on one Buy and two Holds.
