EVgo profitability to improve as EV market expands - analyst [Seeking Alpha]
EVgo Inc. (EVGO)
Company Research
Source: Seeking Alpha
the company to establish a “competitive moat” in the EV charging landscape. RBC Capital sees this fueling increased profitability for EVgo ( EVGO ) and upgraded the stock to Outperform from Sector Perform. The firm trimmed its price target by a dollar to $4 to reflect a more modest topline growth outlook. “The automotive industry is moving towards electrification, and we believe EVgo is well positioned to benefit from this secular trend,” RBC Capital analyst Christopher Dendrinos said in a note to clients. Dendrinos sees certain trends like higher utilization rates and throughput per stall from faster charge rates continuing through 2024 with upside potential to the company's current targets. Investors should also be reassured by EVgo's ( EVGO ) expectation to be EBITDA positive in 2025 along with the company's liquidity position. Although EVgo ( EVGO ) will need a few more years to achieve a free cash flow inflection point and will need additional capital from outside sources
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EVGO
News
- EVgo has over 1m customer accounts across US [Yahoo! Finance]Yahoo! Finance
- EVgo Celebrates More Than 1 Million Customer Accounts Across the U.S. as EV Adoption Continues to Grow [Yahoo! Finance]Yahoo! Finance
- EVgo Celebrates More Than 1 Million Customer Accounts Across the U.S. as EV Adoption Continues to GrowBusiness Wire
- Motiv Names Scott Griffith as Chief Executive Officer and Board MemberGlobeNewswire
- EVgo Doubles Down on Commitment to Begin NACS Deployments in 2024 [Yahoo! Finance]Yahoo! Finance
EVGO
Earnings
- 5/7/24 - Beat
EVGO
Sec Filings
- 5/20/24 - Form 4
- 5/20/24 - Form 4
- 5/20/24 - Form 4
- EVGO's page on the SEC website