EVgo Hold Rating: Balancing Growth Potential with Market ChallengesWe reiterate our Hold rating on EVGO post 3Q results and company commentary. There continues to be a healthy delta between EVGO's longer term modeling framework and our estimates, creating room for positive revisions, but we see a high bar for EV adoption sentiment to improve, with headlines likely to remain negative in the aftermath of a demand full pull forward to end 3Q, with negative sentiment creating an overhang on stocks levered to EV adoption, with increased supply of DC Fast Charging options potentially weighing on EVGO growth expectations. We see EVGO as fairly valued, trading at ~10x our FY28 adj EBITDA discounted back.