Canaccord Reaffirms Rivian’s ‘Buy’ Rating

Canaccord Genuity analyst George Gianarikas reiterated on April 3, 2025, a ‘Buy’ rating on Rivian. The analyst maintained the $23 price target.

“As other OEMs retreat from EV commitments — either by design or compelled by demand issues — we believe Rivian has a unique, timely opportunity to push forward, pull ahead of the non-Tesla pack, and establish itself as the next American auto icon.

Despite the prevailing narrative around the EV malaise, we see the auto industry’s journey to electrification as highly likely, similar to the smartphone/streaming industry transitions of years past.

These industry transitions create a chasm in customer expectations and prevailing business models that invite insurgents to usurp the market-leading positions of industry incumbents.

We reiterate our BUY rating and $23 target.”

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