Stifel raised the firm’s price target on EVgo (EVGO) to $10 from $6 and keeps a Buy rating on the shares. The company remains the firm’s go-to pure-play name for exposure to the U.S. charging, noting that it has done a very solid job with site selection, delivered rising utilization, and is closing in on positive EBITDA in the second half of 2024, the analyst tells investors in a research note. Stifel adds it is raising its 2025-2026 revenue forecasts to $365.9 million and $497.5 million from $357.7 million and $465.5 million, respectively, to reflect the recent $1.05B conditional DOE loan and more rapid growth in charger deployments.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on EVGO:
- Here’s what Wall St. experts are saying about these automakers ahead of earnings
- ChargePoint Stock (NYSE:CHPT) Powers Up as Firm Expands EV Charging Network
- Charged: Tesla under pressure following ‘Cybercab’ unveiling
- EVgo enters MOU with Delta Electronics to develop EV charging architecture
- EVgo upgraded to Buy from Neutral at UBS
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
