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.
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:
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