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EVgo (EVGO) Receives a Buy from Evercore ISI

Tipranks - Tipranks - Sat Mar 7, 6:14AM CST

Evercore ISI analyst Chris McNally maintained a Buy rating on EVgo yesterday and set a price target of $4.00. The company’s shares closed yesterday at $2.29.

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McNally covers the Consumer Cyclical sector, focusing on stocks such as Ford Motor, Magna International, and Rivian Automotive. According to TipRanks, McNally has an average return of 1.8% and a 49.14% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for EVgo with a $5.31 average price target, implying a 132.39% upside from current levels. In a report released on March 4, Stifel Nicolaus also maintained a Buy rating on the stock with a $7.00 price target.

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Based on EVgo’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $118.47 million and a GAAP net loss of $4.83 million. In comparison, last year the company earned a revenue of $67.51 million and had a GAAP net loss of $12.42 million

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