UPDATE: Cowen Starts Allego N.V. (ALLG) at Outperform

Cowen analyst Gabe Daoud Hr. initiates coverage on Allego N.V. (NYSE: ALLG) with a Outperform rating and a price target of $19.00.

The analyst comments "We model an attractive +49% top-line CAGR through '30 culminating in $3.1B of revenue alongside GM improvement to 53% as charging becomes a greater mix of the business. Unique to U.S. peers, ALLG has shown the ability to finance network development with Green Bonds from a group of European banks perhaps limiting the need for dilutive equity financing as we do see the need for additional capital prior to FCF inflection in 2027. Volatility around F-1 effectiveness expected in coming weeks upon 7.6MM PIPE shares registered for resale."

For an analyst ratings summary and ratings history on Allego N.V. click here. For more ratings news on Allego N.V. click here.

Shares of Allego N.V. closed at $12.61 yesterday.

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