- Goldman Sachs analyst Mark Delaney downgraded Volta Inc VLTA to Sell from Neutral with a price target of $2, down from $3, implying a 26.34% downside.
- Delany cautioned that macroeconomic, margin, and balance sheet risk factors could weigh on the company.
- As the increased risk of a recession leads to reduced advertising spending, Volta may find it difficult to cope as a major chunk of its revenue depends on advertising at EV charging stations.
- Price Action: VLTA shares are trading lower by 1.84% at $2.67 in premarket on the last check Wednesday.
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