ChargePoint price target lowered to $10 from $20 at RBC Capital

RBC Capital analyst Chris Dendrinos lowered the firm’s price target on ChargePoint (CHPT) to $10 from $20 and keeps a Sector Perform rating on the shares. The company’s results were a bit below expectations despite stronger revenue on lower subscription mix and higher operating expense, though cash was only a modest outflow, the analyst tells investors in a research note. ChargePoint is making sequential improvements, but demand remains depressed, RBC adds, noting that the company could also face incremental headwinds from negative policy changes in the “Big Beautiful Bill”.