Written by Cláudio Afonso | [email protected] | LinkedIn | X
In a research note to investors this Thursday, Morgan Stanley revised its price target for Rivian stock following the release of the manufacturer’s first-quarter delivery figures, which totaled 13,588 units.”
The firm anticipates the company’s total revenues to grow at a compound annual growth rate of 36% from 2025 to 2030 with annual sales achieving 371,000 battery electric vehicles by then.
Morgan Stanley adjusted Rivian‘s price target to $13 from $14 while maintaining an Overweight rating on the shares.
Despite having previously guided a 10-15% Quarter over Quarter drop from the fourth quarter, Rivian is on track and reaffirmed its 2024 production guidance of 57,000 vehicles.
Rivian‘s CEO RJ Scaringe revealed on Wednesday that the company has reached a significant milestone, with its 100,000th unit rolling off the assembly line in Normal, Illinois.
The company will report its first-quarter 2024 financial results after the market closes on May 7th.
Written by Cláudio Afonso | [email protected] | LinkedIn | X
