Needham analyst Chris Pierce reiterated the Buy rating on ChargePoint Holdings, Inc. (NYSE: CHPT) with a price target of $4. The analyst said he is still “broadly bullish” on EV adoption as a leading indicator for charger install growth, with U.S. EV sales up over 50% y/y. Pierce views CHPT’s leadership position in Level 2 AC charging and scale vs peers as compelling building blocks for a long thesis when industry growth returns. In fact, the analyst considers CHPT as the best proxy for the charging industry given its commanding share (66% share of networked Level 2 Chargers in the U.S. per DO…
