Canaccord Reiterates Buy on Rivian, $22 PT

Canaccord analyst George Gianarikas reiterated a Buy rating and $22.00 price target on Rivian Automotive Inc (NASDAQ: RIVN).

“The US lacks any true EV alternative to Tesla; there’s a massive chasm between MuskCo. and second place, in our view.

Rivian could provide a viable mass market #2.

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.”

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