January 28, 2022

Tomer Aiderapp

Consummate Business Technicians

Rivian Stock: Analyst Bullish Ahead Of Q3 Earnings

Rivian (RIVN) will report third-quarter earnings Thursday immediately after the current market near, as the EV maker garners accolades for its all-electrical pickup truck and mainly bullish analyst sights. Rivian inventory fell.




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It’s the initially earnings report for Rivian due to the fact its November IPO and given that the EV startup commenced constrained deliveries. Rivian also reportedly will announce plans for a next factory, in Ga.

Wall Avenue analysts started coverage of the corporation last 7 days, with most of them initiating Rivian stock at a purchase score whilst there have been a several holds as effectively. Cost targets ranged from $104 to $165, with the signify close to $134.

Rivian has only begun deliveries of its all-electric vans. As of Oct. 31, Rivian generated 180 R1Ts and sent 156. Virtually all of these vehicles were being sent to Rivian staff members. Deliveries for the R1S, a 3-row seven-passenger SUV, are slated for the spring.

Earlier this 7 days, MotorTrend named the Rivian R1T its Truck of the Calendar year for 2022. The award is yet another feather in Rivian’s cap, as it defeat out Tesla and other automakers in bringing the first all-electrical pickup truck to industry.

Basic Motors (GM) will launch its luxurious Hummer EV in the following number of months, although the 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 really is been pushed again to late 2022, with quantity creation not right until 2023.

Morgan Stanley analyst Adam Jonas states Rivian is “the a single” that can problem Tesla. Jonas initiated protection of RIVN stock with an overweight rating and $147 selling price target.

“We imagine the R1T/R1S is the most able/desirable product or service in the sector for about $80,000,” he wrote in a current be aware to clients. “The electric powered shipping and delivery van (EDV) has the opportunity to dominate the fast rising ultimate mile EV fleet, which has been mostly unaddressed by the EV marketplace until finally now.”

Rivian trader Amazon (AMZN) ordered 100,000 of its electric powered supply vans in 2019. Jonas says that variety is possible to boost to 300,000 by 2025-26.

Rivian Earnings

Estimates: Analysts polled by FactSet assume Rivian to publish a quarterly loss of $1.33 a share, when income are noticed achieving $926.4 million.

Final results: Examine back tomorrow.

Rivian Georgia Enlargement

Rivian programs to announce on Dec. 16 that it will open up a vehicle assembly and battery plant in the Atlanta area, in accordance to numerous studies. It by now has an assembly plant in Usual, Illinois.

Rivian also apparently is wanting to open a plant in Europe by the finish of 2023. The U.K. was featuring Rivian extra than 1 billion British pounds — $1.32 billion — to develop a plant in Somerset, the Fiscal Instances described on Dec. 3.


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Rivian Stock

Shares fell 1.8% to 115 on the inventory industry now. Rivian stock, which came public Nov. 10, rocketed as superior as 179.47 on Nov. 16, but have considering that pared back all those gains, in accordance to MarketSmith. RIVN stock is up from its 78 IPO price.

If Rivian inventory starts moving higher, it’ll shortly have an IPO base with an formal get stage of 179.57. Traders could look for an early entry.

Rivian’s Relative Strength Ranking is a 92 out of a greatest-achievable 99. 

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

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

Toyota Motor (TM), which unveiled its large force into EVs previously this week, attained 3.3% as it introduced better over-all creation in January.

China-primarily based EV startups Nio (NIO) dropped 4.7%, Li Vehicle (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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