Cantor Fitzgerald Keeps an ‘Overweight’ Rating on Rivian

Cantor Fitzgerald analyst Andres Sheppard reiterated on May 19, 2025, an ‘Overweight’ rating and $15 price target on Rivian.

“We continue to believe that RIVN benefits from a commercial partnership with Amazon, a strategic joint venture with Volkswagen, and a differentiated product offering.

We are encouraged by the company’s second consecutive positive gross profit, (albeit Q1 was driven primarily by the sale of regulatory credits), and by management’s higher emphasis on autonomy.

However, we are discouraged by the company’s FY25 delivery guidance revision to 40,000 – 46,000 vehicles (vs. prior 46,000 – 51,000), which is lower than FY24 deliveries, and its increase in capex guidance for the year.

Overall, we remain neutral in the near term, driven by lower delivery expectations, worsening macro conditions, tariffs uncertainty, the likely removal of the $7, 500 EV Tax Credit, and uncertainty regarding the company’s autonomy and charging segments (which have yet to be quantified by management).”

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.