Truist Financial analyst Jordan Levy maintained a Hold rating on Rivian Automotive (RIVN – Research Report) today and set a price target of $14.00.
Jordan Levy has given his Hold rating due to a combination of factors related to Rivian Automotive’s recent performance and future outlook. The company’s first-quarter production and delivery numbers slightly exceeded expectations, aligning closely with their guidance. This indicates that Rivian is on track with its plans, particularly in preparation for the second-half shutdown for the R2 expansion.
However, despite these positive indicators, there are broader market concerns that could impact Rivian’s stock performance. The automotive sector, including Rivian, might face challenges due to Tesla’s recent missed delivery targets, which could create headwinds in the market. Additionally, while Rivian reaffirmed its full-year 2025 delivery guidance, the alignment with current market estimates suggests limited immediate upside potential, justifying the Hold rating.
According to TipRanks, Levy is an analyst with an average return of -29.2% and a 17.88% success rate. Levy covers the Technology sector, focusing on stocks such as SolarEdge Technologies, Enphase Energy, and First Solar.
In another report released on March 20, Piper Sandler also downgraded the stock to a Hold with a $13.00 price target.