RBC Capital Starts EVgo, Inc. at Sector Perform, 'Attractive Strategy but Near-Term Headwinds'

  • Investing.com
RBC Capital Starts EVgo, Inc. at Sector Perform, 'Attractive Strategy but Near-Term Headwinds'
(Updated - September 8, 2023 5:00 AM EDT)

RBC Capital analyst initiates coverage on EVgo, Inc. (EVGO) with a Sector Perform rating and a price target of $5.00.

The analyst comments "We are initiating coverage on EVgo (EVGO) with a Sector Perform rating and $5 price target. EVGO is an owner and operator of a leading network of DC fast chargers in the U.S. We believe the strategy positions EVGO to be a beneficiary of positive secular trends in vehicle electrification, growing demand for charging infrastructure, and government-backed incentives. However, we are concerned that price competition will continue to weigh on margins and pressure project economics."

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