Ivan Feinseth, an analyst from Tigress Financial, reiterated the Buy rating on Rivian Automotive. The associated price target is $25.00.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Ivan Feinseth has given his Buy rating due to a combination of factors that highlight Rivian Automotive’s strong growth potential. The company’s recent quarterly results demonstrated significant achievements, including record deliveries and a substantial increase in revenue, which underscore its positive financial trajectory. Additionally, Rivian’s strategic alliances, particularly with Volkswagen, are expected to propel next-generation electric vehicle innovation and expand its global footprint.
Rivian’s commitment to research and development, especially in AI and autonomous driving technologies, is a critical driver of its growth and competitive advantage. The company’s ability to leverage its financial resources and partnerships for capital investments in manufacturing and R&D further supports its expansion plans. These elements collectively position Rivian for accelerated business growth and justify the increased target price and Buy rating.
According to TipRanks, Feinseth is a 5-star analyst with an average return of 13.8% and a 60.52% success rate. Feinseth covers the Technology sector, focusing on stocks such as Apple, Garmin, and Intel.
In another report released on November 10, Evercore ISI also maintained a Buy rating on the stock with a $18.00 price target.