Rivian Stock: Analysts Bullish Ahead Of Post-IPO Earnings Report

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Rivian (RIVN) volition study third-quarter net Thursday aft the marketplace close, arsenic the EV shaper garners accolades for its all-electric pickup motortruck and mostly bullish expert views. Rivian banal fell.


It's the archetypal net study for Rivian since its November IPO and since the EV startup began constricted deliveries. Rivian besides reportedly volition denote plans for a 2nd factory, successful Georgia.

Wall Street analysts began sum of the institution past week, with astir of them initiating Rivian banal astatine a bargain standing though determination were a fewer holds arsenic well. Price targets ranged from $104 to $165, with the mean astir $134.

Rivian has lone begun deliveries of its all-electric trucks. As of Oct. 31, Rivian produced 180 R1Ts and delivered 156. Nearly each of these vehicles were delivered to Rivian employees. Deliveries for the R1S, a three-row seven-passenger SUV, are slated for the spring.

Earlier this week, MotorTrend named the Rivian R1T its Truck of the Year for 2022. The grant is different feather successful Rivian's cap, arsenic it bushed retired Tesla and different automakers successful bringing the archetypal all-electric pickup motortruck to market.

General Motors (GM) volition merchandise its luxury Hummer EV successful the adjacent fewer weeks, portion the more-affordable Ford (F) F-150 Lightning is owed by precocious spring.

Tesla (TSLA) had planned to motorboat its Cybertruck successful 2021, but it's been pushed backmost to precocious 2022, with measurement accumulation not until 2023.

Morgan Stanley expert Adam Jonas says Rivian is "the one" that tin situation Tesla. Jonas initiated sum of RIVN banal with an overweight standing and $147 terms target.

"We deliberation the R1T/R1S is the astir capable/desirable merchandise successful the marketplace for astir $80,000," helium wrote successful a caller enactment to clients. "The electrical transportation van (EDV) has the imaginable to predominate the accelerated increasing last mile EV fleet, which has been mostly unaddressed by the EV marketplace until now."

Rivian capitalist Amazon (AMZN) ordered 100,000 of its electrical transportation vans successful 2019. Jonas says that fig is apt to summation to 300,000 done 2025-26.

Rivian Earnings

Estimates: Analysts polled by FactSet expect Rivian to station a quarterly nonaccomplishment of $1.33 a share, portion income are seen reaching $926.4 million.

Results: Check backmost tomorrow.

Rivian Georgia Expansion

Rivian plans to denote connected Dec. 16 that it volition unfastened a conveyance assembly and artillery works successful the Atlanta area, according to assorted reports. It already has an assembly works successful Normal, Illinois.

Rivian besides seemingly is looking to unfastened a works successful Europe by the extremity of 2023. The U.K. was offering Rivian much than 1 cardinal British pounds — $1.32 cardinal — to physique a works successful Somerset, the Financial Times reported connected Dec. 3.

Stocks Race Higher On Fed Move; These Leaders Flash Buy Signals

Rivian Stock

Shares fell 1.6% to 113 connected the stock marketplace today. Rivian stock, which came nationalist Nov. 10, rocketed arsenic precocious arsenic 179.47 connected Nov. 16, but person since pared backmost those gains, according to MarketSmith. RIVN banal is up from its 78 IPO price.

If Rivian banal starts moving higher, it'll soon person an IPO basal with an authoritative bargain constituent of 179.57. Investors mightiness look for an aboriginal entry.

Rivian's Relative Strength Rating is simply a 89 retired of a best-possible 99. 

Meanwhile, Tesla banal was down 4% to 937. Rival EV startup Lucid (LCID) gained 1.3%.

Among U.S. bequest automakers with a increasing EV slate. GM banal roseate 1.8%. Ford climbed 3%.

Toyota Motor (TM), which unveiled its monolithic propulsion into EVs earlier this week, added 0.7%, arsenic it announced higher wide accumulation successful January.

China-based EV startups Nio (NIO) fell 2.7%, Li Auto (LI) mislaid 2.2% and Xpeng (XPEV) declined 2.7%. Warren Buffett-backed BYD (BYDDF) roseate 3.3%.

Follow Adelia Cellini Linecker connected Twitter @IBD_Adelia.


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