Stifel lowered the firm’s price target on EVgo (EVGO) to $7.50 from $8 and keeps a Buy rating on the shares. In Q3, the firm highlights steady progression on DOE loan advances, “solid momentum” toward breakeven EBITDA in Q4 and a continued reduction in capital expenditures per stall. EVgo remains the firm’s favorite pure-play U.S. EV charging company, the analyst tells investors.
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