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:
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