Benzinga | Nov 22, 2021 12:12PM EST

Cowen Downgrades Blink Charging - Read Why

* Cowen analyst Gabe Daoud downgraded Blink Charging Co (NASDAQ:BLNK) to Market Perform from Outperform with a price target of $40, down from $41, implying a 5% upside.

* The analyst cited valuation for the downgrade with the shares up 51% since the start of Q4.

* Daoud said Blink remained well placed to benefit from industry tailwinds, but "plenty appears priced in" at current share levels.

* Price Action: BLNK shares are trading lower by 11.9% at $37.93 on the last check Monday.