What's Going On With Rivian Automotive Stock?
Portfolio Pulse from Erica Kollmann
Rivian Automotive, Inc. (NASDAQ:RIVN) shares are trading higher after Baird Equity Research reiterated its Outperform rating and designated the company as a 'bullish Fresh Pick'. Baird expects Rivian's Q3 deliveries to beat expectations and sees this as a near-term catalyst for the stock. The firm also highlighted Rivian's improving profit margins and strong consumer demand, particularly for the R1S model.
September 26, 2023 | 4:04 pm
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POSITIVE IMPACT
Rivian's stock is trading higher following Baird's positive coverage. The firm's expectation of Q3 deliveries beating estimates and the company's improving profit margins could act as near-term catalysts.
The positive coverage from Baird Equity Research, a reputable firm, is likely to instill confidence in investors, driving the stock price up in the short term. The firm's expectation of Q3 deliveries beating estimates and the company's improving profit margins are positive indicators for the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100