UPDATE: Wolfe Research Starts Rivian Automotive Inc (RIVN) at Outperform
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Wolfe Research initiates coverage on Rivian Automotive Inc (NASDAQ: RIVN) with a Outperform rating and a price target of $130.00.
The analyst comments "We are initiating coverage of Rivian with an Outperform and $130 target price. Not since the formative days of Tesla have we seen such a strong bench at a startup OEM… extending well beyond design, vehicle engineering, and manufacturing, to EV drivelines, batteries, software, artificial intelligence, and compute… competencies that will likely become even more critical to an OEM’s success in the future."
Shares of Rivian Automotive Inc closed at $97.81 yesterday.
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