EVgo initiated with a Buy at Benchmark ahead of ‘breakout’ 2025

As previously reported, Benchmark initiated coverage of EVgo with a Buy rating and $3 price target. EVgo, which currently owns and operates 3,240 stalls in 35 states and is focused on fast chargers for high traffic, high-density locations, should make continued financial progress through 2024, with 2025 expected by the firm to be “a breakout year” as the company achieves positive EBITDA by year end, based on Benchmark estimates, the analyst tells investors.