- The shares of Rivian Automotive Inc (NASDAQ: RIVN) have received a $141 price target from Redburn. These are the details.
The shares of Rivian Automotive Inc (NASDAQ: RIVN) have received a $141 price target from Redburn. And Redburn analyst Charles Coldicott initiated coverage of Rivian Automotive with a “Buy” rating.
Coldicott believes that the demand will vastly outstrip Rivian’s ability to produce. And Coldicott noted that the company’s vehicles are innovative with incredible acceleration given the vehicles’ size.
Plus Coldicott pointed out that Rivian beat Tesla, Ford, and GM to market with the first electric pickup. This — along with the large SUV space — offers Rivian enormous room to grow.
Going forward, Coldicott expects Rivian to ramp up volumes to 345,000 by 2025 and 1.5 million in 2030.
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