JPMorgan Reiterates Buy Rating on EVGO

EVgo, Inc. (NASDAQ:EVGO) is one of the 13 Best American Penny Stocks to Invest In. On February 16, JPMorgan reiterated its Buy rating on EVgo, Inc. (NASDAQ:EVGO) with a price target of $6 on the stock.

In other news, on January 13, EVgo, Inc. (NASDAQ:EVGO) shared its plans to build at least 150 fast charging stalls each year through 2035 at Kroger Family of Stores locations across the United States.

This move expands a partnership with The Kroger Co. (NYSE:KR) that first started in 2022. Under the new expansion plan, select Kroger Family of Stores locations could receive up to 16 high-power fast charging stalls as EVgo, Inc. (NASDAQ:EVGO) aims to offer customers reliable fast charging while they shop.

Under this expanded program, the first new charging site is already operational in Salt Lake City, Utah. EVgo, Inc. (NASDAQ:EVGO) also plans to open additional locations in other states, including Arizona, California, Florida, Georgia, Texas, and Washington.

The company’s chargers are expected to be installed at Kroger Family of Stores brands including Kroger, Foods Co., Fred Meyer, Fry’s Food Stores, Harris Teeter,  King Soopers, and Smith’s Food and Drug.

EVgo, Inc. (NASDAQ:EVGO) is an electric vehicle (EV) charging company focused on providing EV charging solutions. With over 1,100 fast charging stations across more than 45 states, it is one of the leading fast charging providers in the US.

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: 15 AI Stocks That Are Skyrocketing and 12 Best Oil and Gas Stocks to Buy Right Now.

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