EV Charging Stocks Need A Second Look From Investors, Says UBS -- Market Talk

Dow Jones2023-09-28

1530 ET - Electric vehicle charging stocks have been under pressure since a slate of car brands committed to use Tesla's North American Charging Standard, but UBS analysts Robert Jamieson and Zachary Walljasper are still bullish. They say in research notes that both Blink Charging and ChargePoint Holdings are well positioned to take advantage of forecasted 40% CAGR in public EV charging demand. They also argue investors have overreacted to the NACS announcements, as both Blink and ChargePoint have ways of adapting to the new standard. The analysts initiate coverage of both stocks with a buy rating. Shares of ChargePoint rise 5.4%, while Blink Charging shares are up 6%.(ben.glickman@wsj.com; @benglickman)

(END) Dow Jones Newswires

September 27, 2023 15:30 ET (19:30 GMT)

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