Rivian Takes 'Positive Step In The Right Direction' With R2, R3 Event, But Analysts See 'Mountain-Like Climb Ahead' For EV Maker
Portfolio Pulse from Chris Katje
Rivian Automotive unveiled the R2 SUV and previewed the R3 and R3X models, receiving mixed analyst ratings. Wedbush sees it as a positive step but acknowledges challenges ahead. Truist appreciates the focus on the Illinois factory for cost savings, while Goldman Sachs views the R2 launch as a market expansion opportunity. Analysts highlight the competitive EV market and supply chain issues as risks. Rivian's stock rose 6% following the event.
March 08, 2024 | 5:09 pm
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Rivian unveiled the R2 SUV and previewed R3 models, receiving mixed reviews from analysts but showing a positive stock movement of 6% post-event.
The unveiling of the R2 SUV and the preview of the R3 models have been seen as positive steps for Rivian, with analysts highlighting the company's focus on cost-effective vehicles and market expansion. Despite the challenges ahead, the positive stock movement post-event indicates investor optimism.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100