2021-12-09 05:06:54 EVGO EVgo
12/09/21 12/0905:06 12/09/2105:06 | EVgo initiated with an Overweight at JPMorganJPMorgan analyst Bill Peterson initiated coverage of EVgo with an Overweight rating and $20 price target. The analyst views the company as a leader in the fast charging electric vehicle space. EVgo is generating revenue streams from its installed charger base and "prudently added" capacity as utilization increases and in order to meet future demand, Peterson tells investors in a research note. The analyst says EVgo has "attractive and growing partnerships" across car makers, ride-share and autonomous driving fleets. He anticipates an increasing portion of subscription-like revenue with potential margin upside through increasing software contributions and better energy rates. |
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