Wallbox price target lowered to 75c from $1 at Canaccord

Canaccord lowered the firm’s price target on Wallbox (WBX) to 75c from $1 and keeps a Buy rating on the shares. The firm said it was the second consecutive quarterly increase in revenue albeit a mild one, a strong improvement in gross margins, and an improvement in EBITDA losses. The momentum was led by North America with strength in AC chargers, DC fast chargers, and installation services. After several quarters of downward trends, Canaccord said they may have reached bottom.