'High Likelihood' Of Rivian Raising 2023 Production Guidance, Says Analyst After Q3 Delivery Beat Fails To Impress Investors
Portfolio Pulse from Shanthi Rexaline
Rivian Automotive's Q3 deliveries exceeded expectations, but the company's shares fell as it left its 2023 production guidance unchanged. Analyst Gary Black suggests there's a high likelihood Rivian will raise their production guidance with Q3 earnings. Rivian's performance is significant as it contrasts with Tesla's Q3 sales, which were below expectations.
October 03, 2023 | 5:17 am
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NEGATIVE IMPACT
Tesla's Q3 sales were below expectations, contrasting with Rivian's above-consensus performance.
Tesla's Q3 sales were below expectations, which could negatively impact investor sentiment and the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Rivian's Q3 deliveries exceeded expectations but shares fell due to unchanged 2023 production guidance. Analyst predicts a likely increase in guidance.
Rivian's stock fell despite better than expected Q3 deliveries, likely due to unchanged 2023 production guidance. However, an analyst predicts a likely increase in guidance, which could positively impact the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100