UPDATE: Roth Capital Starts SPAC Switchback Energy Acquisition (SBE) at Buy
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Roth Capital analyst Craig Irwin initiates coverage on SPAC Switchback Energy Acquisition (NYSE: SBE) with a Buy rating and a price target of $46.00.
The analyst commented, "Initiating coverage on Switchback Energy Acquisition Corp. (SBE), acquirer of ChargePoint (CHPT, pending) at Buy with a $46 target. ChargePoint's 73% share in networked Level 2 EV charging stations is a good indictor, in our view, the company should remain a long-term leader in the rapidly expanding EV charging infrastructure market. Emergence of EV fleets and an organic growth opportunity in Europe both supplement the outlook. We note EV market expansion consistent with consensus forecasts could support material long-term upside."
Shares of Switchback Energy Acquisition closed at $40.80 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage, SPAC
Related EntitiesRoth Capital, Definitive Agreement
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