UBS Affirms ‘Buy' Rating on Evgo (EVGO) Amid Profitability Prospects
A row of charging stations glowing with the power of the sun ready for public use.
For starters, the research firm has echoed the long-term impact of additional Department of Energy loan disbursements. It expects the disbursements to provide Evgo with extra capital. In addition, UBS expects the company to achieve its first-ever positive adjusted EBITDA quarter in Q2, marking an essential step toward profitability.
Consequently, UBS expects Evgo to generate adjusted EBITDA of $3.5 million in 2025, $36.4 million in 2026, and $61.8 million in 2027. In the first quarter, the company generated $75.3 million in revenues, better than the $71.4 million that analysts expected.
Evgo, Inc. (NASDAQ:EVGO) is a leading provider of fast charging stations for electric cars, making it easier for people to own and use EVs. It builds and operates a public fast-charging network for electric vehicles.
While we acknowledge the potential of EVGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Most Popular AI Penny Stocks to Buy According to Billionaires and 10 Best Defensive Stocks to Buy in a Volatile Market.
Disclosure: None. This article is originally published at Insider Monkey.
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