Baird is designating Rivian Automotive as a “bullish Fresh Pick” into Q3 deliveries, as the firm expects they will beat consensus. Concerns regarding third party reports of weakening demand have led to recent weakness in the stock, notes the firm, which believes underlying demand remains strong with production improving. The firm, which sees the Q3 deliveries data being a near-term catalyst, has an Outperform rating and $30 price target on Rivian shares.
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