EVGO - EVgo's Challenges Ahead: Analyst On How Price Competition And Regulatory Credits Could Impact Margins And Returns | Benzinga
RBC Capital Markets analyst Chris Dendrinos initiated coverage on EVgo Inc (NASDAQ: EVGO) with a Sector Perform rating and a price target of $5.
The analyst believes EVGO's strategy positions it to benefit from positive secular trends in vehicle electrification, booming demand for charging infrastructure, and government-backed incentives.
Dendrinos sees the EV charging network market at a nascent stage and thinks EVGO is establishing itself in the right locations and enhancing a competitive advantage to improve utilization rates amid a challenging competitive ...