Key Highlights:
- EVgo partners with Toyota to expand its fast-charging network in California.
- Despite network growth, EVgo struggles with profitability and significant liabilities.
- Market analysts anticipate a potential upside, with a one-year price target suggesting growth.
EVgo Inc. (EVGO, Financial) is strategically bolstering its electric vehicle charging infrastructure in the United States through a new collaboration with Toyota, which focuses on establishing additional fast-charging stations across California. While this expansion is a step forward for the company, it comes amid persistent unprofitability and escalating losses over the past five years. Additionally, EVgo's long-term liabilities continue to overshadow its assets, underscoring its financial hurdles. The recent exclusion from the S&P Retail Select Industry Index is a testament to these ongoing fiscal challenges.
Wall Street Analysts' Insights and Forecast
In a review of one-year price targets provided by nine analysts, the average target for EVgo Inc. (EVGO, Financial) stands at $6.61. Estimates vary, with a high target of $12.00 and a low estimate of $4.00. Current evaluations suggest a potential upside of 74.44% from EVgo's present price of $3.79. Investors can explore additional detailed estimate data on the EVgo Inc (EVGO) Forecast page.
Considering the consensus from 11 brokerage firms, EVgo Inc. (EVGO, Financial) achieves an average brokerage recommendation score of 2.0, classifying it in the "Outperform" category. This rating reflects a scale where 1 indicates a Strong Buy and 5 translates to a Sell.
According to GuruFocus estimates, the projected GF Value for EVgo Inc. (EVGO, Financial) in the coming year is $13.42. This suggests a potential upside of 254.09% from its current market price of $3.79. The GF Value represents an estimated fair value, calculated considering historical trading multiples, past business growth, and anticipated future performance. Investors interested in a comprehensive view of EVgo's financials can visit the EVgo Inc (EVGO) Summary page for more data.
