Morgan Stanley analyst Adam Jonas maintains $Rivian Automotive (RIVN.US)$ with a hold rating, and maintains the target price at $13.
According to TipRanks data, the analyst has a success rate of 51.7% and a total average return of 4.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Rivian Automotive (RIVN.US)$'s main analysts recently are as follows:
Rivian Automotive's third-quarter loss was broader than anticipated. The expectation that Rivian will achieve its gross profit positive target has been reinforced, largely due to $275 million in regulatory credits expected in the fourth quarter. Nevertheless, there are concerns regarding the potential impact on R1 consumer demand should the $7,500 IRA lease credit be discontinued.
Rivian Automotive's third-quarter results fell short of expectations for several crucial financial measures, and the forecast for adjusted EBITDA for the entire year was decreased. This downgraded forecast is primarily due to the company's earlier reduced production outlook, which restricts the potential to capitalize on fixed costs.
The firm's revised estimates ahead of Rivian Automotive's Q3 earnings, due later this week, take into account the ongoing supplier issues extending into Q4. This has had implications for production and delivery, which are reflected in the current forecasts.
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.
