EV-Charging Stocks Have Surged. Increased Price Targets Hadn't Kept Pace. [MarketWatch]
EVgo Inc. (EVGO)
Company Research
Source: MarketWatch
But after a big month, Wall Street is re-jiggering ratings. Blink Charging Blink Charging (ticker: BLNK ) stock isn't benefitting from the ratings changes. Shares are down 11% in late Monday trading after a downgrade. The S&P 500 and Dow Jones Industrial are up 0.4% and 0.6%, respectively. Cowen analyst Gabe Daoud downgraded Blink stock to Hold from Buy. His target price went to $40 from $41. It's a small change, but the stock was at about $43 coming into Monday trading, up 47% over the past month. Valuation was the reason cited for the downgrade. The EV-charging industry has a lot going for it with sales of EVs growing around the globe. But a lot of the good news is priced into the stocks, according to Daoud. With the downgrade, 57% of analysts covering Blink stock rate it at Buy. The average Buy-rating ratio for small-capitalization stocks is about 65%. The average analyst price target for Blink stock is about $41, roughly 9% higher than where shares are trading at Monday.
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EVGO
News
- EVgo to Report First Quarter 2024 Results on May 7, 2024 [Yahoo! Finance]Yahoo! Finance
- EVgo to Report First Quarter 2024 Results on May 7, 2024Business Wire
- EVgo Expands Autocharge+ to More Than 50 Electric Vehicle Models [Yahoo! Finance]Yahoo! Finance
- EVgo Expands Autocharge+ to More Than 50 Electric Vehicle ModelsBusiness Wire
- EVgo, Inc. (NYSE: EVGO) had its "outperform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $4.00 price target on the stock.MarketBeat
EVGO
Earnings
- 3/6/24 - Beat
EVGO
Sec Filings
- 4/3/24 - Form ARS
- 4/3/24 - Form DEFA14A
- 4/3/24 - Form DEF
- EVGO's page on the SEC website