JPMorgan downgraded EVgo (NASDAQ: EVGO) to Underweight from its previous Neutral rating. The firm did not issue a specific price target alongside the downgrade.
The rating change was part of a broader clean energy sector adjustment ahead of second-quarter earnings. Analysts identified stronger risk-reward opportunities and more immediate positive catalysts in other stocks within the sector.
JPMorgan expects EVgo’s profit margins to remain subdued through at least the third quarter of 2026. This forecast delays the timeline for a clear assessment of the company's long-term margin potential.