Evgo, Inc. (NASDAQ:EVGO) is one of the best green energy penny stocks to buy right now. On June 17, UBS reiterated a ‘Buy’ rating and a $5 price target. UBS views the company as its preferred electric vehicle charging investment as it is poised to benefit from various catalysts.
A row of charging stations glowing with the power of the sun ready for public use.
For starters, the research firm has echoed the long-term impact of additional Department of Energy loan disbursements. It expects the disbursements to provide Evgo with extra capital. In addition, UBS expects the company to achieve its first-ever positive adjusted EBITDA quarter in Q2, marking an essential step toward profitability.
Consequently, UBS expects Evgo to generate adjusted EBITDA of $3.5 million in 2025, $36.4 million in 2026, and $61.8 million in 2027. In the first quarter, the company generated $75.3 million in revenues, better than the $71.4 million that analysts expected.
Evgo, Inc. is a leading provider of fast charging stations for electric cars, making it easier for people to own and use EVs. It builds and operates a public fast-charging network for electric vehicles.
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This article is originally published at Insider Monkey.
