Rivian Releases Second Quarter 2024 Financial Results
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Rivian Automotive Inc (RIVN) PT Lowered to $18 at Needham
August 7, 2024 6:55 AM EDTNeedham analyst Chris Pierce lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $18.00 (from $20.00) while maintaining a Buy rating.
The analyst comments "We reiterate our Buy rating but lower our price target to $18 post 2Q results and company... More
Cantor Fitzgerald Reiterates Overweight Rating on Rivian Automotive Inc (RIVN)
August 7, 2024 6:03 AM EDTCantor Fitzgerald analyst Andres Sheppard reiterated an Overweight rating and $19.00 price target on Rivian Automotive Inc (NASDAQ: RIVN)
The analyst comments "Targeting Modest Positive Gross Margin in 4Q24 and Positive Gross Margins in FY25: In 2Q24, RIVN recorded gross margins of (39%) vs. our estimate of (41%), and vs. 1Q24 gross margins of (44%). Management reaffirmed its expectations to report positive GM in 4Q24 (we model a 4Q24 Gross Margin of 1%), and disclosed that it expects positive... More
