Wall Street analysts remain optimistic Rivian Cars (NASDAQ: The price of RIVN shares), and the electric car maker is getting a “Moderate Buy” consensus despite expectations of a modest increase in the next year.
According to a survey of 16 experts who gave their opinion in the last three months as followed TipRanksRivian carries eight buy ratings, five negative ratings, and three sell ratings.
The 12-month contract price stands at $18.25, slightly below the last trading price of $18.63, which means a potential gain of 2.04%.
The most optimistic projects that Rivian shares could reach $25 in the next 12 months, while the lowest estimate puts the stock at $9.
The target of the agreement suggests that Rivian’s shares will remain close to their current levels over the next 12 months.
Despite rising consumer ratings, analysts remain divided on the company’s ability to improve profitability and execute on its growth plans, including the launch of its R2 platform.
Opinions of the company RIVN Stock Analyst
Among analysts, Canaccord reiterated a ‘Buy’ rating on Rivian and maintained a price target of $22, arguing that the company has a rare opportunity to emerge as the leading US EV market leader behind Tesla. Analyst George Gianarikas said the US lacks a solid EV market strategy for Tesla, with many automakers scaling back their EV ambitions due to lack of capacity or design issues. As a result, Canaccord believes Rivian is poised to rise above its non-Tesla competitors and establish itself as the No. 1 manufacturer. 2 EV in the US market.
Needham reiterated a ‘Buy’ rating on Rivian and maintained a price target of $23, citing strong performance from the company’s R2 event and seeing the upcoming SUV as a catalyst for Rivian’s market expansion. The company also highlighted positive feedback on the vehicles, progress in reducing production costs, and advancements in Rivian’s autonomous technology, including planned transportation to locations and LIDAR devices that can drive hands-free. Needham said investors should evaluate Rivian based on its sales and technology rather than its broader EV market, adding that R2’s low-cost company model and expected revenue growth support his view.
On the other hand, DA Davidson raised its price target on Rivian to $15 from $14 while maintaining a ‘Neutral’ rating, referring to the progress of the company’s R2 midsize SUV program. Another analyst, Michael Shilsky, noted that production-ready R2 units are already rolling off the line and that Rivian’s expansion plans at its Georgia plant show confidence in future demand. The company believes that the first models of the R2 can be sold for more than the starting price of $ 45,000 that was previously announced and that Rivian’s achievements seem ambitious.
