Rivian price target raised to $15 from $14 at DA Davidson

DA Davidson analyst Michael Shlisky raised the firm’s price target on Rivian (RIVN) to $15 from $14 and keeps a Neutral rating on the shares. The firm was pleased to hear that the R2 appears to be on schedule, with salable units rolling off the line, though it also continues to view the roll-out as not without risk, as initial models will sell nowhere near the promised $45K range and volume expectations seem aggressive, the analyst tells investors in a research note.