ChargePoint (CHPT) Stock: $18 Target And Overweight Rating

By Amit Chowdhry ● Jul 25, 2022
  • The shares of ChargePoint (CHPT) recently received an $18 price target from JPMorgan. These are the details.

The shares of ChargePoint (CHPT) recently received an $18 price target from JPMorgan. And JPMorgan analyst Bill Peterson reiterated an “Overweight” rating on the shares.

Peterson adjusted the rating after attending an analyst event at the company headquarters. And Peterson noted that the company has an attractive and comprehensive strategy built for the long term with a recurring revenue model that will continue bearing fruit as electric vehicle adoption reaches a tipping point and achieves mass market penetration across passenger and commercial segments.

Plus Peterson pointed out that while residential and commercial charging has been core segments for the company so far, the company’s opportunities within the fleet and Europe are key focus areas over the next several years.

Going forward, Peterson continues to view ChargePoint as a key beneficiary and market leader in the electric vehicle charging space and thinks the stock’s risk/reward profile is favorable for longer-term focused investors.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.