JPMorgan placed EVgo (EVGO) on “Positive Catalyst Watch” while keeping an Overweight rating on the shares with an $8 price target The firm came away from management meetings with incremental confidence around the likelihood of the Department of Energy loan closing imminently and the durability of the business model in any electric vehicle demand environment. The analyst says this supports a broader preference for EV charging owner-operators over hardware-software providers. EVgo shares will rally on news of the DOE loan closing, followed by positive mid-term guidance revisions to profitability targets, the analyst tells investors in a research note.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-movingbreaking financial news Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on EVGO:
- EVgo call volume above normal and directionally bullish
- EVgo expands partnership with Meijer for up to 480 new fast charging stalls
- EVgo Inc. Achieves Record Growth in Q3 2024
- Elliott confirms big Honeywell stake, Home Deport reports Q3 beat: Morning Buzz
- EVgo stock jumps after ‘strong’ Q3 earnings report, says Cantor Fitzgerald
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
