Canaccord keeps a Buy rating on Rivian Automotive with a $44 price target after the company reported Q3 deliveries of 15,000, below the firm’s expectations of 18,000 units but above the Street estimates of 14,000 vehicles. Canaccord continues to believe Rivian “is on its way to capturing its fair share” of the electric vehicle market over time. The firm says the company’s sequential improvements accelerating while its deliveries continue to grow.
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