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:
Despite ongoing near-term challenges, it's noted that Rivian Automotive is steadily advancing towards achieving important goals. These objectives include reaching a positive gross profit by the fourth quarter, sustaining that profitability by 2025, and the successful introduction of the pivotal R2 model. It's been assessed that Rivian possesses ample liquidity to support its operations leading up to the R2 launch, indicating that the company's overall trajectory remains unchanged.
Rivian Automotive's wider than expected Q3 loss has been noted, yet the anticipation of $275M in regulatory credits anticipated entirely in Q4 bolsters confidence that the company will reach its gross profit positive target. However, there is concern regarding the potential impact on R1 consumer demand if the $7,500 IRA lease credit is altered.
The third-quarter results for Rivian Automotive fell short of estimates across several major indicators, with the expectation for full-year adjusted EBITDA also being revised downwards. This updated forecast is primarily due to the company's earlier reduction in production expectations, which is likely to restrict the spreading out of fixed costs.
Note:
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