January 22, 2022

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Rivian Stock: Analyst Bullish Ahead Of Q3 Earnings

Rivian (RIVN) will report 3rd-quarter earnings Thursday following the marketplace shut, as the EV maker garners accolades for its all-electric powered pickup truck and mainly bullish analyst views. Rivian stock fell.




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It can be the to start with earnings report for Rivian due to the fact its November IPO and due to the fact the EV startup began confined deliveries. Rivian also reportedly will announce designs for a 2nd manufacturing unit, in Georgia.

Wall Avenue analysts commenced protection of the corporation past week, with most of them initiating Rivian inventory at a obtain score despite the fact that there were being a several retains as well. Rate targets ranged from $104 to $165, with the mean all around $134.

Rivian has only begun deliveries of its all-electric powered vans. As of Oct. 31, Rivian produced 180 R1Ts and sent 156. Virtually all of these autos ended up shipped to Rivian staff members. Deliveries for the R1S, a three-row 7-passenger SUV, are slated for the spring.

Previously this week, MotorTrend named the Rivian R1T its Truck of the Calendar year for 2022. The award is another feather in Rivian’s cap, as it beat out Tesla and other automakers in bringing the very first all-electric powered pickup truck to market.

Normal Motors (GM) will launch its luxurious Hummer EV in the future number of months, though the a lot more-cost-effective Ford (F) F-150 Lightning is due by late spring.

Tesla (TSLA) experienced planned to start its Cybertruck in 2021, but it’s been pushed back to late 2022, with quantity output not right until 2023.

Morgan Stanley analyst Adam Jonas suggests Rivian is “the one particular” that can challenge Tesla. Jonas initiated protection of RIVN stock with an obese score and $147 price tag focus on.

“We imagine the R1T/R1S is the most capable/desirable item in the marketplace for about $80,000,” he wrote in a the latest observe to consumers. “The electrical delivery van (EDV) has the likely to dominate the rapidly rising remaining mile EV fleet, which has been mainly unaddressed by the EV current market right until now.”

Rivian investor Amazon (AMZN) ordered 100,000 of its electrical shipping and delivery vans in 2019. Jonas says that selection is probable to enhance to 300,000 by way of 2025-26.

Rivian Earnings

Estimates: Analysts polled by FactSet assume Rivian to put up a quarterly decline of $1.33 a share, whilst gross sales are viewed reaching $926.4 million.

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Rivian Georgia Growth

Rivian options to announce on Dec. 16 that it will open a vehicle assembly and battery plant in the Atlanta place, in accordance to different stories. It previously has an assembly plant in Normal, Illinois.

Rivian also seemingly is looking to open up a plant in Europe by the close of 2023. The U.K. was supplying Rivian a lot more than 1 billion British pounds — $1.32 billion — to create a plant in Somerset, the Fiscal Periods noted on Dec. 3.


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Rivian Inventory

Shares fell 1.8% to 115 on the inventory market right now. Rivian stock, which came general public Nov. 10, rocketed as significant as 179.47 on Nov. 16, but have considering the fact that pared back individuals gains, according to MarketSmith. RIVN stock is up from its 78 IPO rate.

If Rivian inventory starts transferring greater, it’ll shortly have an IPO foundation with an official get position of 179.57. Traders could possibly appear for an early entry.

Rivian’s Relative Strength Ranking is a 92 out of a very best-feasible 99. 

Meanwhile, Tesla inventory was up 1.8% to 976. Rival EV startup Lucid (LCID) fell a fraction.

Amongst U.S. legacy automakers with a rising EV slate. GM inventory inched up .3%. Ford stock edged up .6%.

Toyota Motor (TM), which unveiled its substantial force into EVs previously this 7 days, attained 3.3% as it introduced bigger overall creation in January.

China-dependent EV startups Nio (NIO) dropped 4.7%, Li Auto (LI) fell 2% and Xpeng (XPEV) declined 3%. Warren Buffett-backed BYD (BYDDF) fell 2.9%.

Follow Adelia Cellini Linecker on Twitter @IBD_Adelia.

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