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.

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

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, Inc. (NASDAQ:EVGO) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than EVGO and that has 100x upside potential, check out our report about the cheapest AI stock.

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