Shifting Gears: Tesla, Rivian Accelerate In EV Market, Lucid Hits A Bump
Portfolio Pulse from Hayden Buckfire
Cantor Fitzgerald analyst Andres Sheppard issued Buy ratings for Tesla, Rivian, VinFast, and Polestar, with respective price targets of $230, $15, $8, and $5. Lucid received a Sell rating with a $4 price target. Sheppard highlighted Tesla's price cut on autonomous driving technology and its deal with Baidu as positive, Rivian's Amazon deal and market expansion, VinFast's price advantage and dealer network, and Polestar's production shift to the US as encouraging. Lucid's slower production ramp-up and additional capital needs were seen as negatives.
May 14, 2024 | 5:13 pm
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NEGATIVE IMPACT
Lucid's slower-than-expected production ramp-up, industry slowdown in EV demand, and additional capital needs are concerns for Cantor Fitzgerald, leading to a Sell rating.
Lucid's operational challenges and the broader industry slowdown could hinder its stock performance in the short term, justifying the Sell rating.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Polestar's decision to move part of its production to a Volvo factory in South Carolina and the expected introduction of the Polestar 4 vehicle are seen as positive developments by Cantor Fitzgerald.
The production shift to the US and the new vehicle launch are likely to reduce risks and appeal to the US market, supporting Polestar's growth trajectory.
CONFIDENCE 65
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Rivian's deal to supply Electric Delivery Vans to Amazon and the end of its exclusivity with Amazon are viewed positively by Cantor Fitzgerald, indicating potential for additional revenue opportunities.
The supply deal with Amazon and the end of exclusivity could lead to new commercial agreements for Rivian, potentially boosting its revenue and market position.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 85
POSITIVE IMPACT
Tesla's price cut on autonomous driving technology and its deal with Baidu for map services in China are seen as positive moves by Cantor Fitzgerald, potentially driving future revenue and success in the Chinese market.
The price cut on autonomous driving technology and the partnership with Baidu are likely to enhance Tesla's competitive edge in the EV market, especially in China, which is a significant market for EVs.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
VinFast's price advantage due to production in Vietnam and its growing dealer network in the US are highlighted as key strengths by Cantor Fitzgerald, suggesting a positive outlook for the company.
VinFast's strategic price positioning and dealer network expansion are likely to enhance its market penetration and brand recognition in the competitive EV market.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80