On Nov 09, major Wall Street analysts update their ratings for $Rivian Automotive (RIVN.US)$, with price targets ranging from $13 to $23.
BofA Securities analyst John Murphy downgrades to a hold rating, and adjusts the target price from $20 to $13.
Evercore analyst Chris McNally maintains with a buy rating, and maintains the target price at $20.
Baird analyst Ben Kallo maintains with a buy rating, and adjusts the target price from $20 to $18.
Needham analyst Chris Pierce maintains with a buy rating, and adjusts the target price from $18 to $14.
Stifel analyst Stephen Gengaro maintains with a buy rating, and maintains the target price at $18.
Furthermore, according to the comprehensive report, the opinions of $Rivian Automotive (RIVN.US)$'s main analysts recently are as follows:
The wider than expected Q3 loss for Rivian Automotive was noted, with the anticipation that the company will achieve its gross profit positive target, largely due to the regulatory credits anticipated in Q4. However, there is concern regarding the potential impact on R1 consumer demand if changes to the IRA lease credit are enacted.
Rivian Automotive's third-quarter outcomes fell short of expectations across several major indicators, with a downward revision in the forecast for full-year adjusted EBITDA. This diminished projection is primarily due to the earlier reduction in production estimates, which is expected to restrict the company's capability to capitalize on fixed costs.
The firm's latest expectations for Rivian Automotive ahead of its Q3 earnings reflect a belief that ongoing supplier issues persisting into Q4, along with the subsequent impact on production and deliveries, are the main factors influencing their current projections for the company.
Here are the latest investment ratings and price targets for $Rivian Automotive (RIVN.US)$ from 8 analysts:
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
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.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
