ChargePoint price target lowered to 65c from $1.75 at Roth MKM

Roth MKM lowered the firm’s price target on ChargePoint (CHPT) to 65c from $1.75 and keeps a Neutral rating on the shares. The company reported positive Q4 results with adjusted EBITDA ahead of estimates on traction with its restructuring, the analyst tells investors in a research note. The firm says ChargePoint’s cost structure is approaching manageable levels with improved cash burn. Roth cites ChargePoint’s limited profit visibility, execution risks, growth deceleration, and the contraction in typical sector multiples for the target cut.