Cantor Fitzgerald Affirms Neutral on Rivian, $19 PT
Cantor Fitzgerald analyst Andres Sheppard reiterated a Neutral rating and $19 price target on Rivian Automotive Inc (NASDAQ: RIVN).
“We continue to expect R2 deliveries to materially boost customer demand (driven by the more competitive price point and the recently unveiled autonomy features), and we view Rivian’s AI and customer-focused autonomous approach as a way for the company to materially improve the unit economics and likely capture meaningful autonomy and EV market share (over several years).
Recall as well that the company previously announced that its CFO, Claire McDonough, will be stepping down on 10/30, after nearly six years, and we expect the company to pursue a permanent CFO replacement by early next year.”
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