Why Rivian Stock Is Accelerating In Premarket Today
Portfolio Pulse from Shanthi Rexaline
Rivian Automotive, Inc. (NASDAQ:RIVN) shares are rising in premarket trading following a positive analyst action from Guggenheim Securities, which initiated coverage with a Buy rating and an $18 price target. The optimism is based on a compelling catalyst path for Rivian's R2/R3 vehicles. Despite industry-wide demand slowdowns and significant losses per EV, Rivian's new, more affordable R2 vehicles are expected to boost its prospects.
June 25, 2024 | 12:06 pm
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Rivian Automotive, Inc. (NASDAQ:RIVN) shares are rising in premarket trading following a positive analyst action from Guggenheim Securities, which initiated coverage with a Buy rating and an $18 price target. The optimism is based on a compelling catalyst path for Rivian's R2/R3 vehicles. Despite industry-wide demand slowdowns and significant losses per EV, Rivian's new, more affordable R2 vehicles are expected to boost its prospects.
The positive analyst rating and price target from Guggenheim Securities are likely to boost investor confidence in Rivian, especially given the focus on the new, more affordable R2 vehicles. This could lead to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100