Deutsche Bank analyst Edison Yu resumed coverage of Rivian Automotive (RIVN) with a Hold rating and $14 price target. Rivian may be “one of the few western upstart OEMs left standing” coming out of the recent EV boom/bust cycle, but in “a league far below” Tesla (TSLA), the analyst tells investors. While supported by the recent large investment from Volkswagen (VWAGY), Rivian likely cannot be a very high volume OEM at least anytime in the foreseeable future, but rather a more niche “lifestyle” brand that can eventually be sustainably profitable, the analyst added.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RIVN:
- Palantir, Dell Technologies named to join S&P 500: Morning Buzz
- Charged: Tesla remains top auto pick at Morgan Stanley
- Volkswagen’s $5B deal with Rivian prompts dismay in Cariad division, FT says
- Rivian to participate in Morgan Stanley’s 12th Annual Laguna Conference
- Rivian Automotive assumed with a Peer Perform at Wolfe Research