Rivian Automotive (RIVN) Stock: $70 Target And Buy Rating

By Amit Chowdhry ● Jul 4, 2022
  • The shares of Rivian Automotive Inc (NASDAQ: RIVN) have received a $70 price target from Mizuho. These are the details.

The shares of Rivian Automotive Inc (NASDAQ: RIVN) have received a $70 price target from Mizuho. And Mizuho analyst Vijay Rakesh is maintaining a “Buy” rating on the shares.

Rakesh adjusted the rating while citing the conservatively lowered June quarter and the second half of 2022 unit delivery estimates to reflect Shanghai shutdowns and supply chain constraints. But Rakesh sees strong electric vehicle demand despite higher prices with longer lead times, as production and new models ramp up. 

Despite the elevated macro risks, battery electric vehicles could see a strong second half of 2022 ramp-ups as China reopens and demand improves going forward.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.