EVgo price target raised to $5 from $4 at Roth Capital

Roth Capital raised the firm’s price target on EVgo (EVGO) to $5 from $4 and keeps a Buy rating on the shares. The company reported Q1 results ahead of estimates and management disclosed that in April the Department of Energy disbursed an incremental $19M under its Title 17 loan, the analyst tells investors in a research note. The firm expects EVgo’s progress improving network profitability and lowering frictional costs to serve as primary trading catalysts for the shares, supporting visibility on positive EBITDA by the end of 2025.