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Blink Charging Gets Bullish Upgrade From H.C. Wainwright -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Blink Charging Co (NASDAQ:) shares jumped 6% on Monday after H.C. Wainwright upgraded the stock to buy from neutral. 

Midday, Blink was trading at $42.60

In a research note, analyst Sameer Joshi stated to investors that there were “several good developments.” The reason was the U.S. Infrastructure Bill which included $7.5 billion in federal funding for electric vehicle charging networks.

Joshi mentioned the U.S. Administration’s intention to alter the $7,500 existing tax credit, from a Tax Credit, to a Tax Refund, as well as the $4,500 additional benefit for cars built in U.S. facilities, as reasons why electric vehicle demand is expected increase.

H.C. Wainwright is currently targeting a 50-dollar price for Blink shares.

Matt Summerville, DA Davidson raised the price target for Blink chares from $31 to $35 while maintaining a neutral rating. Following its “handily”, beat analyst expectations third-quarter revenues, the analyst expressed optimism about Blink’s use of its EV charging stations.

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