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Needham raises estimates, praising Rivian's (RIVN) performance ahead of 2Q report

July 27, 2023 8:23 AM EDT

Needham reiterated a Buy rating on Rivian Automotive (NASDAQ: RIVN) and raised their 12-month price target on the companys stock to $31.00 (From $28.00) ahead of the automakers 2Q earnings report. Rivian is expected to release their 2Q results on Tuesday, August 8th.

Needham conducted a weekly evaluation of Rivian via their EV OEM Used Vehicle Price Tracker. Analyst Chris Pierce reported that the... More