RBC Capital Thinks Rivian Automotive’s Stock is Going to Recover

RBC Capital analyst Joseph Spak maintained a Buy rating on Rivian Automotive (RIVNResearch Report) yesterday and set a price target of $100.00. The company’s shares closed last Tuesday at $42.19, close to its 52-week low of $33.46.

According to TipRanks.com, Spak is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -12.1% and a 44.2% success rate. Spak covers the Industrial Goods sector, focusing on stocks such as Magna International, Tenneco Automotive, and American Axle.

Currently, the analyst consensus on Rivian Automotive is a Moderate Buy with an average price target of $76.08, a 63.5% upside from current levels. In a report issued on March 23, Mizuho Securities also reiterated a Buy rating on the stock with a $95.00 price target.

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Rivian Automotive Inc designs, develops and manufactures category-defining electric vehicles and accessories.

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