EVgo (EVGO) is 'Best-Positioned in the EV Charging Industry' - Cantor Fitzgerald

Cantor Fitzgerald analyst Andres Sheppard reiterated an Overweight rating and $7.00 price target on EVgo, Inc. (NASDAQ: EVGO).

The analyst commented, "In 3Q25, EVGO reported a 3Q25 Network Throughput of 95 GWh, vs. our estimate of 97.4 GWh (which represented a 25% increase YoY). Additionally, the company's average daily throughput per stall was 295 kWh in 3Q25 (vs. 254 kWh per stall in 3Q24). Separately, EVGO's Average Charger Utilization Rate was ~22% (amongst the highest in the industry). In 3Q25, EVGO raised its FY25 revenue guidance to $350M-405M, from the prior $350M-380M, reflecting a potential contract close-out and gain on sale related to an existing dedicated fleet site. Additionally, EVgo widened its FY25 Adjusted EBITDA guidance to ($15M)-23M (from prior ($5M)-10M, and raised its mid-point to $4M (from prior mid point of $2.5M). Overall, we remain bullish on EVGO over the long term and are encouraged by the company's continued high utilization rate and its growing network throughput, which provide further validation of the company's charging stalls usage and reliability, in our view. EVGO added ~280 new DCFC stalls in 3Q25 (vs. 240 in 2Q) and now has 4,590 stalls in operation. Separately, EVGO's average charger utilization rate was ~22% in 3Q25, which we continue to believe is amongst the highest in the industry average for public DCFCs in North America. Overall, we believe that the need for EV charging is outpacing the supply of EV chargers, and continue to see EVGO as one of the best-positioned in the EV Charging industry. We also expect additional growth to come from self-driving vehicles in the future. At these levels, we continue to view this as a good entry point for investors, and we maintained our Overweight rating and our 12-month $7 PT."

For an analyst ratings summary and ratings history on EVgo, Inc. click here. For more ratings news on EVgo, Inc. click here.

Shares of EVgo, Inc. closed at $2.94 yesterday.

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