Truist Securities began off protection on Rivian Automotive (NASDAQ:RIVN) with a Purchase ranking.
Analyst Jordan Levy and crew imagine that whereas Rivian (RIVN) is simply simply starting to make deliveries, the corporate has been strategically positioning itself, elevating ample capital, and constructing out its vertically-integrated ecosystem for over a decade.
“As Rivian pushes by way of the formidable challenges of ramping 4 totally different automobiles amidst a traditionally troublesome provide chain backdrop, we imagine the market will come to see Rivian not simply as a profitable EV producer with a strong associate in Amazon, however as a number one instance of a next-generation diversified mobility tech powerhouse.”
Naturally, the connection with Amazon (AMZN) is seen as a giant aggressive benefit for Rivian in outlasting opponents massive and small.
One other optimistic issue with Rivian (RIVN) recognized by Truist is the breadth and depth of Rivian’s management crew. CEO RJ Scaringe is famous to have constructed the corporate from the bottom up whereas bringing collectively a crew with experience spanning the broad vary of the corporate’s enterprise segments.
Truist’s worth goal of $65 on Rivian (RIVN) implies that shares will virtually double from their present stage.