Cantor Fitzgerald Keeps $18 Price Target on Rivian
Cantor Fitzgerald analyst Andres Sheppard reiterated a Neutral rating and $18.00 price target on Rivian.
“Our Neutral rating and our 12-month $18 PT are unchanged, pending a full model update.
In our model, we update our 1Q26 vehicle delivery estimate to reflect the company’s pre-announcement. This results in an increase to our 1Q26 revenue to ~$1,266.1M (from prior ~$1,203.1M).
We also increase our FY26 blended ASP to ~$64.4K (from prior ~ $62.0K) to reflect recent pricing of Rivian’s R2 vehicles.
We arrive at our $18 PT via a bottom-up, 10-year DCF.
Key Risks include: continued supply chain disruptions, manufacturing constraints, high cost-of-goods-sold, highly competitive market, and slower-than-expected customer adoption.”
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