UBS Boosts EVgo Price Target to $5.40, Maintains Buy Rating

UBS analyst Jon Windham raised EVgo's price target from $5 to $5.4, a 8% increase, while maintaining a "Buy" rating. This indicates continued confidence in EVgo's market position and potential future performance. Analyst ratings and price target adjustments offer insights into market expectations and sentiment towards EVgo as it navigates the evolving electric vehicle charging sector.

UBS analyst Jon Windham has raised EVgo's price target to $5.40 from $5.00, representing an 8% increase, while maintaining a "Buy" rating. This adjustment underscores the analyst's continued confidence in EVgo's market position and potential future performance.

EVgo, a leading provider of electric vehicle (EV) charging solutions, operates a network of over 950 fast charging locations across 35 states. The company's services include public fast charging networks, white-label solutions, and partnerships with automakers, fleet operators, and retail hosts. UBS's positive outlook is bolstered by recent accolades and strong financial performance.

In a recent development, Newsweek recognized EVgo as one of "America's Greatest Companies 2025," awarding it nearly the maximum rating of 4.5 stars. This recognition, coupled with a bullish analyst note from Stifel's Stephen Gengaro, has driven investor confidence.

EVgo's second-quarter results, although not showing net profit, exceeded revenue expectations, indicating robust growth despite slower EV sales. The company's focus on ultra-fast chargers and software-based services positions it well for future growth.

The UBS price target adjustment aligns with broader market trends, such as the growing demand for electric vehicle batteries. According to a recent report by IMARC Group, the Australia electric vehicle battery market is expected to reach USD 12,235.06 million by 2033, growing at a CAGR of 25.97% during 2025-2033 [3].

References:
[1] https://www.marketscreener.com/news/ubs-adjusts-price-target-on-evgo-to-5-40-from-5-maintains-buy-rating-ce7c51d2df8df327
[2] https://www.fool.com/investing/2025/08/15/why-evgo-stock-blasted-10-higher-this-week/
[3] https://www.openpr.com/news/4148850/australia-electric-vehicle-battery-market-2025-worth-usd