RBC Capital Upgrades EVgo to Outperform, Lowers Price Target to $4
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Chris Dendrinos upgraded EVgo (NASDAQ:EVGO) from Sector Perform to Outperform but lowered the price target from $5 to $4.

March 07, 2024 | 10:35 am
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EVgo was upgraded by RBC Capital from Sector Perform to Outperform, although the price target was reduced from $5 to $4.
The upgrade to Outperform suggests a positive outlook on EVgo's performance by RBC Capital, indicating a belief in the company's potential to outperform the market or its sector. However, the reduction in the price target from $5 to $4, while still an upgrade, suggests a cautious approach to valuation, possibly due to market conditions or company-specific factors. This mixed signal could lead to short-term positive momentum due to the upgrade, but the lowered price target may temper expectations.
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