香港股市 已收市
  • 恒指

    18,597.23
    +392.55 (+2.16%)
     
  • 國指

    6,374.44
    +137.72 (+2.21%)
     
  • 上證綜指

    3,151.34
    +1.59 (+0.05%)
     
  • 道指

    33,770.82
    -81.71 (-0.24%)
     
  • 標普 500

    3,954.06
    -3.57 (-0.09%)
     
  • 納指

    11,009.89
    +26.11 (+0.24%)
     
  • Vix指數

    22.18
    -0.03 (-0.14%)
     
  • 富時100

    7,593.65
    +81.65 (+1.09%)
     
  • 紐約期油

    80.99
    +2.79 (+3.57%)
     
  • 金價

    1,772.10
    +8.40 (+0.48%)
     
  • 美元

    7.7980
    -0.0120 (-0.15%)
     
  • 人民幣

    0.9068
    -0.0093 (-1.02%)
     
  • 日圓

    0.0558
    -0.0003 (-0.46%)
     
  • 歐元

    8.0953
    +0.0332 (+0.41%)
     
  • Bitcoin

    16,851.11
    +428.60 (+2.61%)
     
  • CMC Crypto 200

    399.93
    -0.77 (-0.19%)
     

RBC Capital Cuts Rivian Price Target By 17%

  • RBC Capital analyst Joseph Spak maintained Rivian Automotive Inc (NASDAQ: RIVNwith an Outperform and cut the price target from $75 to $62.

  • Spak found a sizeable addressable market that is up for grabs as the industry goes electric.

  • He liked the segments that Rivian chased. Rivian will initially focus on the NA market, a region he believes is on the cusp of a BEV inflection. Further, ~77% of 2021 U.S. light vehicle sales are trucks, where the Rivian consumer portfolio is focused. Rivian's initial consumer products, the R1T and R1S, are impressive and category-defining.

  • He found Rivian's clean sheet approach and tech allows for vehicles as a platform for recurring revenue.

  • He noted Rivian's diverse business model and having Amazon.com Inc (NASDAQ: AMZN) involvement helped add scale. Amazon allows Rivian to attack the electric last-mile delivery market with a great partner that can provide invaluable feedback. Further, the Amazon order of 100K vehicles by 2025 with an estimated $7 billion value helps provide visibility.

  • However, he cut the 2023 production expectations as Rivian will switch to introduce LFP packs and their new in-house Enduro motor and plans to re-rate their plant to allocate 75% of production to the R1, which will require a multi-week changeover.

  • Price Action: RIVN shares traded higher by 1.52% at $34.3 on the last check Wednesday.

Latest Ratings for RIVN

Date

Firm

Action

From

To

Mar 2022

Wedbush

Maintains

Outperform

Mar 2022

Wells Fargo

Maintains

Equal-Weight

Mar 2022

RBC Capital

Maintains

Outperform

View More Analyst Ratings for RIVN

View the Latest Analyst Ratings

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.