UBS initiated coverage of ChargePoint with a Buy rating and $9 price target. The firm is positive for three reasons, namely: ChargePoint has the largest network of Level 2 chargers in North America with about 50% share; deep customer base of large companies that will support the land and expand growth strategy, and; clear path to break even EBITDA by 4Q25 as gross margin expands as various headwinds abate and opex growth slows.
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