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Rivian Has Big EV Market Opportunity Ahead, Says Analyst

·1 min read
  • Wedbush analyst Daniel Ives reiterated an Outperform rating on the shares of Rivian Automotive Inc (NASDAQ: RIVN) with a price target of $45.00.

  • The analyst said Rivian's deal with Mercedes-Benz last week on a joint venture to produce electric vans in a new electric-only manufacturing facility in Central or Eastern Europe is a smart strategic move by Rivian to penetrate Europe.

  • Ives said the deal would help Rivian ramp up the EDV platform's production to meet its long-term growth and profitability targets.

  • Also ReadTesla China's Strong August Comeback, Rivian To Drive Across The Atlantic, Talent Drain At Lucid: Week's Biggest EV Stories

  • RIVN has now placed itself well to navigate near-term supply chain headwinds while extending its brand exposure overseas, added the analyst.

  • While the deal expands its brand exposure to international customers, Rivian has a competitive advantage over the competition due to its financial backing from Amazon.Com, Inc. (NASDAQ: AMZN) and its flagship 100,000 vehicle commercial delivery contract.

  • Ives believes Rivian is primed to capture the massive influx of current and future EV demand and has the potential to be a major EV stalwart over the next decade.

  • Price Action: RIVN shares are trading higher by 3.04% at $38.69 on the last check Monday.

Latest Ratings for RIVN

Date

Firm

Action

From

To

Mar 2022

Wedbush

Maintains

Outperform

Mar 2022

Wells Fargo

Maintains

Equal-Weight

Mar 2022

RBC Capital

Maintains

Outperform

View More Analyst Ratings for RIVN

View the Latest Analyst Ratings

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