Bank of America Rivian · RIVN

BofA Securities Downgrades Rivian to Underperform, $10 Price Target

Feb 24, 2025 Analyst: John Murphy 1 min read Reproduced verbatim
Rating
Sell
Price target
$10
from $13
Implied downside
-23%
vs $12.97 prior close
Bank of America and Rivian logos

BofA Securities analyst John Murphy downgraded Rivian Automotive Inc (NASDAQ: RIVN) from Neutral to Underperform with a price target of $10 (from $13).

“We downgrade RIVN from Neutral to Underperform. RIVN remains one of the most viable among the startup EV OEMs and is making progress towards sustainably positive gross margins.

However, the 2025 outlook was softer than we had expected and the VW partnership is complicating earnings forecasts for at least the next four years.

Competition is also increasing with new SUV/CUVs projected to enter the market in 2026/2027.

Further, demand for EVs is slowing and may not get much better near-term with indications that the US may pull back on EV incentives.

Given the Trump Administration’s focus on cost cutting, we believe there could be risk to RIVN’s $6.6bn Department of Energy loan closed by the Biden Administration on January 16, 2025.”

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Tracking this call

Since this note+10% RIVN $12.97 → $14.33 (Oct 9) · moving away from the target

This call✗ Not reached within 12 months: a year after the note RIVN closed at $15.12, 51% above the $10 target, and it moved the other way.

Firm track recordBank of America: 73% of its 15 targets at least a year old were reached within 12 months (#13 of 20 firms); on Rivian, 0 of 2. Accuracy ranking →

Bank of America on Rivian · target history
Feb 24, 2025 · $10 · Sell · this note May 7, 2025 · $10 · Sell Mar 4, 2026 · $14 · Sell
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Other Rivian notes

Yorkville IvesBuy Initiated coverage · Oct 7 $20 BairdBuy Kept rating and price target · Oct 5 $23maintained CantorHold Kept rating and price target · Oct 2 $19maintained CantorHold Kept rating and price target · Sep 28 $19maintained CitiHold Initiated coverage · Sep 14 $18
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.