And JPMorgan analyst Bill Peterson is even more bullish, projecting that EVGO stock will reach $20. The consensus price target of $16.83 is more than 70% higher than the current stock price, which currently sits at less than $10.
EVGo says 80% of Californians live close to one of its fast-charging stations, which number more than 330 in the Golden State alone. EVgo says more than 130 million Americans live within 10 miles of an EVgo station.
Los Angeles-based EVgo has a smaller footprint than ChargePoint, but it’s still a solid bet for growth as among EV charging stocks. It’s also worth noting here that three of these - CHPT, EVGO and VLTA - are among the 47 stocks in the exchange-traded fund portfolio of ALPS Clean Energy ETF (NYSEARCA: ACES). Now the trick is finding which ones are the best ones to buy now. The landmark legislation will ensure that EV charging stocks are hot commodities over the next decade. 11 for how cities and states can deploy EV stations to be part of the network. The White House is emphasizing putting EV stations in rural, disadvantaged and hard-to-reach locations.įederal regulators are expected to provide guidance by Feb. The Energy Department says there are currently fewer than 46,000 EV charging stations in the U.S. The $1 trillion package championed by President Joe Biden includes $7.5 billion that is earmarked for a national network of 500,000 EV charging stations by 2030. And now the White House is putting renewed emphasis on the sector with its recent infrastructure package. The electric vehicle space has been a hot one on Wall Street for a couple of years now. If you’ve been thinking about electric vehicle charging stocks, you’re not alone. Editor’s Note: This article was corrected to reflect the reported sales numbers of Volta Charging.
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