ChargePoint (CHPT) PT Lowered to $34 at Jefferies, Sees Q3 Revenue Upside

December 3, 2021 8:14 AM EST
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Price: $14.69 -0.68%

Rating Summary:
    7 Buy, 6 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 28 | New: 8
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Jefferies analyst David Kelley lowered the price target on ChargePoint Holdings Inc. (NYSE: CHPT) to $34.00 (from $36.00) while maintaining a Buy rating ahead of earnings on 12/7 where they see revenue upside.

The analyst commented, "Into 3Q earnings (reporting 12/7 - AMC), we believe CHPT is poised to deliver revenue upside. Yet, continued supply chain disruption could drive further input cost inflation, in-part offsetting improved volume leverage. We remain upbeat on longer term trajectory as ongoing infrastructure build-out & CHPT's L2 scale suggest continued robust sales growth. US regulations (passed infrastructure bill, pending EV credits) also suggest ramping EV & charging momentum."

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