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Stifel Maintains Rivian Automotive(RIVN.US) With Buy Rating, Cuts Target Price to $16

Futu News ·  Nov 11 21:31  · Ratings

Stifel analyst Stephen Gengaro maintains $Rivian Automotive (RIVN.US)$ with a buy rating, and adjusts the target price from $18 to $16.

According to TipRanks data, the analyst has a success rate of 43.1% and a total average return of 5.5% over the past year.

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Furthermore, according to the comprehensive report, the opinions of $Rivian Automotive (RIVN.US)$'s main analysts recently are as follows:

  • Despite persistent near-term challenges, it's believed that Rivian is advancing well towards crucial goals, like achieving a positive gross profit by the fourth quarter and throughout 2025, as well as the pivotal launch of the R2. It's considered that Rivian possesses adequate liquidity to support its operations up to the commencement of the R2, suggesting that the company's strategic narrative remains consistent.

  • The wider than expected Q3 loss for Rivian Automotive has been noted, yet the receipt of significant regulatory credits in Q4 makes it almost certain that the company will achieve its gross profit positive target. Nevertheless, there is concern regarding the R1 consumer demand should the $7,500 IRA lease credit be discontinued.

  • Rivian Automotive's third-quarter results fell short of expectations across several major metrics, with projections for full-year adjusted EBITDA being revised downwards. This updated forecast is primarily due to the company's earlier decreased production forecast, which hampers its capacity to capitalize on fixed costs.

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.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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