Rivian stock surges 36% after announcing $5 billion joint venture with 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 $8 at CFRA
June 26, 2024 5:00 AM EDTCFRA analyst Garrett Nelson raised the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $8.00 (from $5.00) while maintaining a Sell rating.
The analyst comments "We lift our 12-month target to $8 from $5. Volkswagen (VOW3 GR) announced a deal... More
