UBS Lifts EVgo, Inc. (EVGO) Price Target and Raises Revenue Growth Targets

EVgo, Inc. (NASDAQ:EVGO) is one of the green energy stocks with long-term upside potential. On August 20, analysts at UBS reiterated Buy rating on the stock and raised the price target to $5.40 from $5. The positive stance follows the company’s demonstration of strong revenue growth of 49% over the past 12 months.

Similarly, the UBS price target hike reflects revised revenue estimates over the next three years. The research firm expects Evgo to deliver $359 million in revenue in 2025, which will rise to $442 million in 2026 and to $537 million in 2027. It is a significant upgrade from the previous estimates of $340 million, $436 million, and $521 million, respectively.

Likewise, UBS reiterated that Evgo is a buy owing to its competitive edge in the electric vehicle charging space. Among the catalysts that the research firm expects to strengthen the company’s sentiments in the market are positive adjusted EBITDA in Q4 2025.

EVgo, Inc. (NASDAQ:EVGO) operates one of the largest public fast-charging networks for electric vehicles (EVs). It provides charging infrastructure for individual drivers, ride-sharing services, and commercial fleets. They build, own, and operate these charging stations and offer services to businesses, automakers, and fleet operators to accelerate EV adoption.

While we acknowledge the potential of EVGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: Ken Griffin Stock Portfolio: Top 12 Stock Picks and Goldman Sachs Tech Stocks: Top 10 Stocks to Buy Now.

Disclosure: None. This article is originally published at Insider Monkey.