Voltas, Inc. (VLTA) shares gained almost 1% in the pre-market trading session on December 6, after the commerce-centric electric vehicle (EV) charging network company revealed its footprint expansion in the European market.
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Expansion Plans
At the NOAH Conference in Zurich, Voltas announced that it will initially focus on Germany, Austria, Switzerland, and France. (See Voltas stock charts on TipRanks)
Volta has the most utilized network in the U.S. with unique charging stations, enabling seamless charging for consumers. It features large-format digital screens located near the entrances of premier commercial locations.
The expansion plans in Europe will be led by experienced local teams of EV charging hardware and software engineers, SaaS experts, and digital outdoor media sales leaders from initial offices located in Berlin and Paris.
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Management Weighs In
Co-founder and President of Volta, Chris Wendel, commented, “We believe in a regenerative energy future that is clean, connected, and custom-fit to how we live our lives. We’ve been honing our expertise over the past decade in the U.S., helping to catalyze one of the most significant macroeconomic shifts of our lifetime.”
Wall Street’s Take
The Street is optimistic about the stock and has a Strong Buy consensus rating based on 3 unanimous Buys. The average Voltas price target of $14 implies 74.78% upside potential to current levels.
Bloggers Weigh In
TipRanks data shows that financial blogger opinions are 83% Bullish on VLTA, compared to a sector average of 70%.
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