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EVgo Is Well-Positioned For Robust Revenue Growth: Analyst

EVgo Is Well-Positioned For Robust Revenue Growth: Analyst

Yahoo08-05-2025

J.P. Morgan analyst Bill Peterson reiterated an Overweight rating on the shares of Evgo Inc (NASDAQ:EVGO) with a price forecast of $5.00.
EVgo beat revenue expectations, thanks in part to stronger-than-anticipated performance from its eXtend business, said the analyst.
The company reaffirmed both its financial and stall deployment targets, easing investor concerns around the stability of its Department of Energy (DOE) loan, which saw a second drawdown in April and remains on track for quarterly disbursements over five years.
Management believes EVgo is well-positioned to grow market share in fast charging, especially as peers face challenges from uncertain EV policies and reduced spending by site hosts.
: Ford Outperforms In Q1, Faces Tariff Challenges Ahead, Say Analysts
The analyst stated that additional non-dilutive funding and potential small-scale acquisitions may further support growth.
Tariff-related cost impacts are expected to be manageable at around $4–5 million in 2025, with much of the affected equipment already in inventory or en route. The company anticipates that cost-saving measures will help absorb these expenses.
EVgo operates one of the largest DC fast-charging networks in the U.S., generating revenue from its expanding charger base.
The company adds capacity based on growing demand and offers a reliable network that is compatible with all EVs, including Teslas, without adapters.
With strong partnerships across automakers, rideshare, and autonomous fleets, EVgo is well-positioned for robust revenue growth, driven by rising utilization, faster charging, and potential DOE loan support, concluded the analyst.
Price Action: EVGO shares closed higher by 4.36% at $3.83 on Thursday.
Read Next:Photo via Shutterstock
Date
Firm
Action
From
To
Dec 2021
Needham
Initiates Coverage On
Hold
Dec 2021
JP Morgan
Initiates Coverage On
Overweight
Nov 2021
Capital One
Initiates Coverage On
Equal-Weight
View More Analyst Ratings for EVGO
View the Latest Analyst Ratings
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This article EVgo Is Well-Positioned For Robust Revenue Growth: Analyst originally appeared on Benzinga.com
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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