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Roth MKM lowered the firm’s price target on Blink Charging (BLNK) to $3 from $4 and keeps a Buy rating on the shares. The company posted Q4 revenue in line estimates, and excluding a one-time expense, the 35% gross margins were 520 bps above Street estimates, though its first half product revenue will probably come in around second-half of 2024 levels before accelerating in the second half of this year, the analyst tells investors in a research note. As a result, the firm is trimming its revenue estimates by $15M while noting that the company’s current cash of $55M still remains “near-term adequate”.
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