Europe's moving away from Russian energy — That could boost these electric vehicle charging stocks

Charge Point EV stations
Source: Charge Point

Russia's war on Ukraine is causing Europe to rethink its energy complex, which could ultimately be a boon for electric vehicle charging companies.

Moving away from dependency on Russian fuel means rolling out more EVs. And for EVs to take market share away from internal combustion engine vehicles, more chargers are needed.

"[T]he current level of charging infrastructure is far from what it needs to be," Raymond James said in a recent note to clients.