JPMorgan Downgrades EVgo (EVGO) to Neutral from Overweight

EVgo, Inc. (NASDAQ:EVGO) is one of the 12 Best EV Stocks to Buy For Long Term Investment.

On March 25, 2026, JPMorgan downgraded EVgo, Inc. (NASDAQ:EVGO) to Neutral from Overweight after assuming coverage, without assigning a price target. The firm said EVgo presents a compelling long-term opportunity given its recurring revenue model and potential to grow faster than the broader U.S. electric vehicle market, but sees limited near-term catalysts and expects margin expansion to take time, with profitability likely to “remain subdued” through at least the third quarter.

On March 12, 2026, Morgan Stanley lowered its price target on EVgo, Inc. (NASDAQ:EVGO) to $3.50 from $4.50 and maintained an Equal Weight rating following Q4 results. The firm noted that while FY26 guidance came in softer than expected, the longer-term investment thesis remains intact.

JPMorgan Downgrades EVgo (EVGO) to Neutral from Overweight

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Earlier in March, EVgo reported Q4 EPS of (4c) versus (11c) a year ago, with revenue of $118.5M compared to the $102.61M consensus. CEO Badar Khan said the company expanded its network with more than 500 new stalls in Q4, bringing the total to 5,100 by year-end, while achieving positive adjusted EBITDA for both the quarter and full year 2025. Looking ahead to 2026, the company plans to accelerate deployment, expand NACS connector adoption, enhance customer experience, deepen partnerships, and roll out next-generation charging infrastructure as part of its long-term growth strategy.

EVgo, Inc. (NASDAQ:EVGO) operates a fast-charging network for electric vehicles in the United States.

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