![]() All three companies have growth potential, but it’s clear that CHPT stock is the undisputed winner. ![]() Both EV charging stocks are in the red while ChargePoint pulls away, leaving them and its other smaller-cap peers in the dust. While it has surged 13% over the past month, companies like Blink Charging (NASDAQ: BLNK) and EVgo (NYSE: EVGO) have failed to garner any real momentum. On top of that, CHPT stock has outperformed most of its smaller competitors. Companies like ChargePoint operate in a lucrative market that still isn’t oversaturated. While there are many options for purchasing an EV, far fewer companies are working to produce more chargers. Recent data indicates that sales will likely increase by an additional 35% this year. Demand for electric vehicles is only growing. CHPT a best-in-class way to play EV charging theme.” “The reason for our upgrade is simple - CHPT has proof of execution, line of sight to profitability and with its story largely unchanged since the PIPE offering, valuation is compelling against shares making all-time lows. Why does Vrabel’s team see CHPT stock as having so much upside potential? In a note to clients, the analyst issued the following statement: InvestorPlace’s William White reports that it is experiencing heavy trading volume as enthusiasm from investors continues to mount. This suggests a possible upside of 78.8 from the stock's current price. On average, they anticipate the company's stock price to reach 16.77 in the next twelve months. Their CHPT share price forecasts range from 10.00 to 28.00. The stock trades at almost double the SPAC IPO price of 10 but it. 12 Wall Street research analysts have issued twelve-month price objectives for ChargePoint's stock. As of this writing, it is up more than 12% for the day, and if its current trajectory is any indication, it is likely to keep rising steadily. ChargePoint went public through a reverse merger with Switchback Energy Acquisition (SBE), which was completed in February 2021. It began today by surging as markets opened and it hasn’t lost any momentum. After a week of minimal gains, CHPT stock has pulled back into the green following Vrabel’s bullish take.
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