Here is a fresh and high-quality analysis of a potential future success or failure. 
The demand challenges seen in the charging market stem from over-investment by charging operators in 2022-23. We expect that lower customer inventory levels and the acquisition of new customers will turn Kempower’s sales into growth in 2025, with a clear turnaround in profitability. We find the long-term growth of the target market and the competitive value creation potential of Kempower’s products as attractive at the current share price. We raise our recommendation to Accumulate (previously Reduce) but reduce our target price to EUR 16 (previously EUR 19), due to the increase in the required return, among other factors.