Evercore analyst Chris McNally maintains $Rivian Automotive (RIVN.US)$ with a buy rating, and maintains the target price at $20.
According to TipRanks data, the analyst has a success rate of 40.0% and a total average return of -10.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Rivian Automotive (RIVN.US)$'s main analysts recently are as follows:
The firm noted that Rivian Automotive's third-quarter results fell short of expectations across several major indicators, with the forecast for the full year's adjusted EBITDA being revised downwards. This diminished projection is mainly due to the company's previously decreased production forecast, which hampers its capacity to capitalize on fixed costs.
The expectation for Rivian Automotive's Q3 earnings, set to be released this Thursday, has been adjusted due to ongoing supplier issues persisting into Q4, which have impacted production and delivery figures.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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