Rivian Analyst Ratings Changes
- Goldman Sachs & Co. lowered its price target on Rivian from $19 from $18. A target downgrade usually indicates that the analysts have revised their earnings or growth estimates downwards, which could imply that they expect the company’s stock price to fall.
- Morgan Stanley & Co. maintained its “Overweight” rating for the company but lowered its price target from $28 to $26. An “Overweight” rating indicates that the analyst expects the company to perform better than its peers. A price target reduction coupled with maintaining the rating usually indicates that the analysts have revised their earnings or growth estimates downwards, but they still view the stock as a good investment opportunity.
- RBC maintained its “Outperform” rating for the company but lowered its price target from $50 to $28. An “Outperform” rating usually means that the analyst expects the stock to outperform the broader market or its peers. The price target reduction coupled with maintaining the rating may suggest that the analysts have revised their earnings or growth estimates downwards, but they still view the company as a good investment opportunity.
RIVN Stock Price Analysis & Forecast
According to the 30 analysts who have published their forecasts on Rivian Automotive Inc, the average target price for the company’s stock over the next 12 months is USD 36.65, which implies a potential upside of approximately 132% from the last closing price of USD 15.76.
Additionally, Rivian Automotive Inc has an average analyst rating of Strong Buy, indicating a bullish outlook for the company’s future. However, it’s worth noting that Stock Target Advisor’s own analysis of the stock is Neutral, based on 2 positive signals and 2 negative signals.
The company’s stock price has experienced significant volatility over the past year, with a decline of 74.54%. Over the past month, the stock price has dropped by 20.04%, and over the past week, the decline has been 17.14%. This could be due to a variety of factors, including concerns over supply chain issues, regulatory uncertainty, and the impact of the pandemic on the automotive industry as a whole.