Barclays analyst Dan Levy 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 41.5% and a total average return of -1.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Rivian Automotive (RIVN.US)$'s main analysts recently are as follows:
Analysts recognize that Rivian Automotive is navigating through persistent near-term challenges but is making commendable strides towards achieving significant benchmarks. These benchmarks include reaching a positive gross profit by the fourth quarter, sustaining that into 2025, and the pivotal introduction of the R2 model. It is believed that Rivian possesses the necessary liquidity to support its operations up to the R2 launch, and the overall narrative remains robust.
The wider than expected Q3 loss for Rivian Automotive has been acknowledged, with a note that the company is likely to achieve its gross profit positive target, largely due to a significant amount in regulatory credits expected in Q4. There is concern regarding the potential impact on R1 consumer demand should the $7,500 IRA lease credit be discontinued.
The firm noted that Rivian Automotive's Q3 results fell short of estimates across several major metrics and that the forecast for adjusted EBITDA was revised downward for the year. This diminished forecast is primarily due to the company's earlier reduction in production projections, which hampers the opportunity to offset fixed costs.
Note:
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