Needham analyst Chris Pierce raised the firm’s price target on Rivian Automotive (RIVN) to $17 from $14 and keeps a Buy rating on the shares after its better than expected Q4 results. The firm continues to see the company as a long term winner in the internal-combustion-engine to EV transition given owner satisfaction and passion ahead of launching the more affordable, total-addressable-market-increasing R2 vehicle,the analyst tells investors in a research note.
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