- JPMorgan analyst Bill Peterson initiated coverage on EVgo Inc (NASDAQ:EVGO) with an Overweight rating and $20 price target, implying a 56% upside.
- Peterson views the company as a leader in the fast-charging electric vehicle space.
- The analyst said EVgo is generating revenue streams from its installed charger base and “prudently added” capacity as utilization increases and in order to meet future demand.
- Peterson said EVgo has “attractive and growing partnerships” across car makers, ride-share, and autonomous driving fleets.
- He anticipates an increasing portion of subscription-like revenue with potential margin upside through increasing software contributions and better energy rates.
- Price Action: EVGO shares are trading higher by 5.09% at $12.79 on the last check Thursday.
If You Invested $1000 In This Stock 5 Years Ago, You Would Have $4,300 Today
Paycom Software (NYSE:PAYC) has outperformed the market over the past 5 years by 25.38% on an annualized basis producing an average annual return of 33.79%. Currently, Paycom Software has a market capitalization of $20.66 billion.
