Rivian and Volkswagen Group Announce Plans for Joint Venture to Create Industry-Leading Vehicle Software Technology and for Strategic Investment by Volkswagen
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Canaccord Genuity Reiterates Buy Rating on Rivian Automotive Inc (RIVN)
June 26, 2024 5:59 AM EDTCanaccord Genuity analyst George Gianarikas reiterated a Buy rating and $20.00 price target on Rivian Automotive Inc (NASDAQ: RIVN).
The analyst comments "Relief. Giant relief. Rivian secured up to $5B (up to $3B directly to Rivian) in financing from Volkswagen to help bridge its operations to FCF positive. In return, Rivian will license its existing electrical (E/E) architecture and vehicle software to an equally controlled/owned JV with VW (up to $2B in financing from VW). Rivian gets capital. In the short term, the JV will in return enable VW to utilize the Rivian... More
Rivian Automotive Inc (RIVN) PT Raised to $13 at Truist Securities in Seperate Note Ahead of Investor Day
June 25, 2024 4:52 PM EDTTruist Securities analyst Jordan Levy raised the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $13.00 (from $10.00) while maintaining a Hold rating.
The analyst comments "Ahead of RIVN's investor day on Thursday, we outline the main items we'll be focused on into the event.... More
Truist Securities Reiterates Hold Rating on Rivian Automotive Inc (RIVN), Comments on Volkswagen JV
June 25, 2024 4:51 PM EDTTruist Securities analyst Jordan Levy reiterated a Hold rating and $10.00 price target on Rivian Automotive Inc (NASDAQ: RIVN).
The analyst comments "This afternoon, RIVN & Volkswagen (VOW-GR, NR) announced a Joint Venture building on RIVN's integrated software/electrical architecture platform & focused on creating nextgeneration software-defined vehicle (SDV)... More
