2023-05-10 07:33:47 ET
Bank of America reiterated a Buy rating on Wallbox N.V. ( NYSE: WBX ) after factoring in the electric charging company's Q1 earnings update .
Analyst Marianne Bulot noted Wallbox ( WBX ) showed strong market outperformance in North America, gross margin sequential improvements, and a ramp-up roadmap with new products.
The overall view on WBX is that the company offers technologically differentiated exposure to the fast-growing EV charging infrastructure market.
"We see outperformance vs the market, and US positioning in particular should drive 75%pa revenue growth to 2025."
Wallbox ( WBX ) isa said to be one of the few manufacturers planning U.S. production capacity for +350kW chargers to meet the big political ambitions for a national fast charging network. The bullish view on Wallbox ( WBX ) from BofA is predicated on growth and gross margins well above peers and the differentiated U.S. market position.
More on Wallbox:
- Wallbox Has A Very Promising Future, But Doesn't Equal A Buy
- Read more breakdowns on Wallbox from Seeking Alpha analysts
- Dig into the earnings call transcript
- View the growth metrics
- Check out relative strength index and moving averages
- See the Seeking Alpha Quant Rating
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Wallbox is highlighted by Bank of America as an EV stock standout