Wedbush Lowers Rivian’s Price Target to $18
Wedbush analyst Dan Ives reaffirmed on May 7, 2025, an ‘Outperform’ rating on Rivian. The analyst lowered its price target to $18 (from $20).
“RIVN just announced its FY1Q25 results featuring strong top and bottom-line beats while lowering its FY25 delivery guidance as the company navigates a murky macro backdrop while looking to take out costs across its operations to reach its profitability goals.
Total revenue came in at $1.24 billion above the Street’s $997.7 million estimate as the company saw strength for its updated product portfolio while benefiting from higher ASPs and seeing elevated software and services revenue of $318 million well-above the prior period of $214 million as the new electrical architecture and software development services gain further traction across its customer base.
The company announced it will be hosting an AI and Autonomy Day this fall where we expect to gain further insights into RIVN’s autonomous path with the goal of improving driver assistance capabilities utilizing real-world fleet data and expanding availability to all second-generation R1 owners.
We maintain our OUTPERFORM rating while lowering our price target from $20 to $18 reflecting new tariff challenges on the horizon for Rivian (along with the rest of the US auto industry).”
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