Ali Ahmed
2 min read
EVgo, Inc. (NASDAQ:EVGO) is one of the 11 Best US Stocks to Invest in Under $5. On May 14, Stifel analysts maintained a “Buy” rating on EVgo, Inc. (NASDAQ:EVGO) with a price target of $8.00.
The analysts showed confidence in the company’s strong performance based on the first-quarter 2025 results.
A businessman plugging in to a public charging station, symbolizing the services provided by the company.
Stifel analysts highlighted that EVgo, Inc. (NASDAQ:EVGO) has continued to exceed expectations and remains their top pick among US electric vehicle charging companies. The first quarter of 2025 showed promising signs, such as the likely retention of a Department of Energy loan and expected better profit margins in the company’s charging business.
The analysts also pointed out that tariffs are expected to have little impact on EVgo, Inc.’s (NASDAQ:EVGO) plans to install new chargers in 2025. The company’s management has also reiterated its guidance for 2025, which supports a stable outlook.
While there is some concern about slower EV sales, Stifel analysts believe that the growing number of EVs on the road will increase the use and throughput of EVgo, Inc.’s (NASDAQ:EVGO) charging network. The growth in EV usage is seen as a key factor driving the company’s future growth and performance.
EVgo, Inc. (NASDAQ:EVGO) is an electric vehicle fast charging provider in the United States with over 1,100 fast charging stations across more than 40 states.
While we acknowledge the potential of EVGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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Disclosure: None.
