Canaccord analyst George Gianarikas said he views the Rivian announcement that it is pausing plans to produce electric commercial vans in Europe through a partnership with Mercedes-Benz as a testament to the company’s continued focus on capital preservation and continues to expect Rivian to fund operations with cash on hand through 2025. Gianarikas maintains his Buy rating and $55 price target on Rivian Automotive shares.
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 today’s best-performing stocks on TipRanks >>
Read More on RIVN: