RBC Capital analyst Chris Dendrinos lowered the firm’s price target on ChargePoint (CHPT) to $9 from $10 and keeps a Sector Perform rating on the shares. The company’s Q3 results were a bit better than expected with revenues topping company guidance, but margins were a bit softer due to product mix, the analyst tells investors in a research note. RBC adds it remains cautious on ChargePoint due to uncertainty in underlying EV demand growth.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CHPT:
- ChargePoint price target lowered to $8.50 from $11 at Roth Capital
- ChargePoint Holdings: Stabilization Amidst Regulatory Challenges and Uncertain Demand Growth
- ChargePoint Reports Growth and Debt Reduction
- ChargePoint extending gains, up 11% at $9.47 afterhours following guidance
- ChargePoint says ‘confident revenue growth will continue’