EVgo price target lowered to $8 from $9 at Evercore ISI

Evercore ISI analyst James West lowered the firm’s price target on EVgo to $8 from $9 and keeps an Outperform rating on the shares. EVgo is “clearly” experiencing accelerating throughput growth across its network and the value proposition “remains compelling, especially given where the stock is trading,” says the analyst, who contends that EVgo is well positioned to capture the growth underway in public EV charging as a pure play on owner-operated public DCFC charging and charging as a service.