Citigroup Maintains Neutral Rating for EVgo: Here's What You Need To Know

Citigroup has decided to maintain its Neutral rating of EVgo EVGO and lower its price target from $6.20 to $5.10.

Shares of EVgo are trading down 0.85% over the last 24 hours, at $4.35 per share.

A move to $5.10 would account for a 17.17% increase from the current share price.

About EVgo

EVgo owns and operates a public direct current fast-charging network in the U.S. Its network of charging stations provides electric vehicle charging infrastructure to consumers and businesses. Its network is capable of charging all EV models and charging standards currently available in the U.S. EVgo partners with national and regional chains of grocery stores, automotive original equipment manufacturers, hotels, shopping centers, gas stations, parking lot operators, local governments and independent property owners in order to locate and deploy its EV charging infrastructure.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.