Barclays Starts Rivian Automotive Inc (RIVN) at Equalweight

December 6, 2021 6:16 AM EST
Get Alerts RIVN Hot Sheet
Price: $26.99 --0%

Rating Summary:
    11 Buy, 6 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 4 | Down: 11 | New: 35
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Barclays analyst Brian Johnson initiates coverage on Rivian Automotive Inc (NASDAQ: RIVN) with a Equalweight rating and a price target of $120.00.

The analyst comments "With its initial off-road capable B2C vehicles - the R1T and R1S - Rivian is building a differentiated consumer brand centered around its mission to ‘keep the world adventurous forever.’ While ‘forever’ alludes to sustainability - an attribute common to all BEVs, the adventure, off-road capable positioning is unique for EVs - and puts it into a sweet spot for differentiating its product in a crowded ICE and EV world. Just as Jeep is able to command a premium in the ICE market based on its adventure attributes, we think Rivian can build a profitable brand in the BEV world - especially as most other BEVs are to varying degrees aimed at more of a sport sedan or sport CUV position. The adventure brand also supports a wide range of subscription and recurring revenue opportunities."

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 $97.81 yesterday.

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