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EVgo Stock Soars on Government Loan, JPMorgan Upgrade
EVGOEVgo (EVGO) Investopedia·2024-10-03 17:05

Key Takeaways EVgo received a conditional 1.05billionloanguaranteefromtheDepartmentofEnergytoinstallpublicEVchargingstations.Thecompanyexpectstoput7,500fast−chargingstallsaroundtheU.S.by2030.JPMorganupgradedEVgo′sstock,sayingitwilloutperformitsrivals′sharesinthenextfewyears.EVgo(EVGO)sharessoared501.05 billion loan guarantee from the Department of Energy to install public EV charging stations. The company expects to put 7,500 fast-charging stalls around the U.S. by 2030. JPMorgan upgraded EVgo's stock, saying it will outperform its rivals' shares in the next few years. EVgo (EVGO) shares soared 50% Thursday after the electric vehicle (EV) charging station provider received a 1.05 billion conditional government loan guarantee to install public EV chargers. T ...