Rivian Automotive is an innovative electric vehicle manufacturer focused on producing environmentally friendly transportation solutions. The company designs and develops electric trucks and SUVs, aiming to disrupt the automotive industry by offering high-performance vehicles that are equipped with advanced technology and sustainable features. With an emphasis on outdoor adventure and exploration, Rivian's products cater to outdoor enthusiasts and promote an active lifestyle, while also prioritizing sustainability and reducing carbon emissions.
Rivian Automotive shares are trading lower by 2.7% during Tuesday's session. Analyst Mickey Legg of Benchmark on Monday initiated coverage with a Buy rating.
Goldman Sachs said in a research note released on Tuesday that it expects continued progress in the autonomous vehicles (AVs) space, including robotaxis, in 2025.
Shares of electric vehicle manufacturer Rivian (NASDAQ:RIVN) jumped 15.2% in the morning session after Benchmark analyst Mickey Legg initiated coverage on the stock with a Buy rating and $18 price target. Legg believes Rivian can attract more customers, pointing to growing opportunities in the electric vehicle (EV) market.
He said, "After a pause this year, domestic EV production is expected to improve in 2025 and further accelerate in 2026 to 2027 as average selling prices decline and the charging infrastructure is built out.".
The electric vehicle sector experienced a dynamic week with key developments, including Danny Moses ending his Tesla short position, Cathie Wood criticizing a judge's ruling on Musk's pay, Rivian's high customer satisfaction, Tesla's Cybertruck facing challenges despite strong sales, and Lucid beginning production of its Gravity SUV.
