Baird Reiterates Outperform Rating on Rivian Automotive Inc (RIVN)

Baird analyst Ben Kallo reiterated an Outperform rating and $23.00 price target on Rivian Automotive Inc (NASDAQ: RIVN).

The analyst commented: "Notes from 10-Q filing. Q2 revenue rose 27.2% y/y to $1.7B and consolidated gross profit swung to $179M (10.8% margin) from ($206M) in Q225. Deliveries were 12,194 (+14%) and production 12,613 (+111%) as previously reported on July 2, with R2 deliveries beginning in the quarter. Automotive gross loss narrowed to ($36M) from ($335M), helped by $106M of regulatory credits versus $3M and an IEEPA tariff refund receivable. Total liquidity was $5.85B before July's ~$1.3B equity raise."

For an analyst ratings summary and ratings history on Rivian Automotive Inc click here. For more ratings news on Rivian Automotive Inc click here.

Shares of Rivian Automotive Inc closed at $15.36 yesterday.

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