Evercore ISI analyst Chris McNally initiated coverage of Rivian Automotive with an In Line rating and $35 price target. Rivian represents the largest and most well-funded company of the 3 new EV entrants he is launching coverage on, with its R1T pickup garnering "rave reviews" and the R1S SUV launch ongoing, McNally said. Though he started the stock with an In Line rating this is "with a positive bias" as he believes a catalyst path exists progressing through 2023, McNally added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on RIVN:
- What You Missed This Week in EVs and Clean Energy
- Soros Fund Management buys Sierra Wireless, exits Kinder Morgan in Q3
- EV stocks face a reckoning, not all will survive, Barron’s says
- Rivian Scores 3 Buys after Posting Impressive Q3
- Rivian Automotive price target lowered to $50 from $61 at RBC Capital