Read What Needham Thinks About Blink Charging's SemaConnect Deal

  • Needham analyst Vikram Bagri raised the price target for Blink Charging Co BLNK to $27 (an upside of 78%) from $25 while maintaining the Buy rating on the shares after the company acquired SemaConnect.
  • The analyst sees eligibility for NEVI funding from newfound eligibility under the Buy America requirement as the biggest near-term deal benefits, as does management.
  • RelatedBlink Charging Expands Footprint Via This $200M Acquisition - What's The Benefit
  • According to the analyst, the transaction comes with a list of benefits, including manufacturing capacity, an expanded client and customer base, more developed DCFC tech, talented employee pool, and potential upsell opportunities to existing customers. This will help strengthen BLNK's relative competitive position.
  • Bagri believes that SemaConnect's best-in-class margins combined with the potential for BLNK to cut its level 2 hardware COGS by ~30% should allow the company to reach the mid-30s gross margin sooner.
  • Price Action: BLNK shares are trading higher by 1.03% at $15.18 on the last check Wednesday.

Posted In: BriefsAnalyst ColorNewsPrice TargetReiterationSmall CapAnalyst Ratings

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.