Why EVgo Shares Are Trading Higher Today

Loading...
Loading...

EVgo Inc EVGO is trading higher Thursday after JP Morgan initiated coverage with a positive outlook for the stock.

JP Morgan analyst Bill Peterson initiated coverage on EVgo with an Overweight rating and announced a price target of $20.

Peterson sees EVgo as a leader in the fast-charging EV market. The JP Morgan analyst pointed to the company's installed charger base as a solid revenue stream that can add capacity as demand increases.

The analyst also said EVgo has "attractive and growing partnerships" with automakers, ride-share and autonomous driving fleets.

Related Link: JPMorgan Sees Sharp Upside In This Electric Vehicle Charging Company

EVgo is a public fast-charging network for electric vehicles powered by renewable energy.

EVGO Price Action: EVgo has traded as high as $19.58 and as low as $7.17 over a 52-week period.

The stock was up 6.07% at $12.91 at time of publication.

Photo: courtesy of General Motors.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Price TargetInitiationSmall CapAnalyst RatingsMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...