Rivian Cruises With Open Options In EV Space, Not Just Amazon: 6 Analysts Peek Under the Hood Post-Q3
Portfolio Pulse from Priya Nigam
Rivian Automotive Inc (RIVN) shares dropped despite reporting positive Q3 results. The company reported a top line of $1.34B and delivered 15.6k vehicles. It raised its full-year production target from 52,000 to 54,000 units. The company's exclusivity with Amazon (AMZN) has ended, opening up to new customers. Analysts from Mizuho Securities, Cantor Fitzgerald, Goldman Sachs, RBC Capital Markets, Truist Securities, and Wedbush provided their insights and ratings on the company's performance.
November 08, 2023 | 5:05 pm
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NEUTRAL IMPACT
Rivian's exclusivity with Amazon has ended, opening up to new customers.
The end of Rivian's exclusivity with Amazon could potentially impact Amazon's business. However, the direct impact on Amazon's stock is uncertain.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Rivian reported positive Q3 results and raised its full-year production target. However, its shares dropped.
Rivian's positive Q3 results and increased production target should have boosted investor confidence. However, the share price dropped, indicating that other factors may be influencing investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100