EVgo price target lowered to $6 from $7 at Stifel

Stifel analyst Stephen Gengaro lowered the firm’s price target on EVgo to $6 from $7 and keeps a Buy rating on the shares after the company delivered “solid” Q2 results. The firm, which says EVgo’s solid performance was underpinned by rising utilization of its deployed chargers and increasing throughout and expects these trends to continue and help support the company’s goal of being EBITDA positive in 2025, calls the stock its “favorite charging name.”