Canaccord Genuity analyst George Gianarikas maintained a Buy rating on Wallbox (WBX – Research Report) on February 27 and set a price target of $1.00.
George Gianarikas has given his Buy rating due to a combination of factors that suggest Wallbox is positioned for future growth despite current challenges. The partnership with Generac has significantly boosted North American revenue, reflecting a 64% year-over-year increase in the fourth quarter of 2024. This partnership, along with steady growth in software and services, highlights Wallbox’s potential in the evolving EV market.
Moreover, management’s proactive cost-cutting measures and strategic initiatives are commendable, as they aim to achieve positive EBITDA by 2025. Although the company faces a slower EV growth environment, the recent capital raise has strengthened its balance sheet. Gianarikas believes that Wallbox’s leading charging technology and key partnerships position it well to capitalize on the anticipated recovery in EV demand, despite the current earnings miss and reduced price target.
According to TipRanks, Gianarikas is an analyst with an average return of -6.3% and a 32.60% success rate. Gianarikas covers the Industrials sector, focusing on stocks such as Enovix, Arq Inc, and Generac Holdings.