So, price targets should always be treated with a high degree of skepticism. While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That’s because the ability and unbiasedness of analysts in setting price targets have long been questionable. Shares of Rivian jumped over 13% in premarket trading Wednesday after the electric vehicle maker announced a $5.8 billion investment from German automaker Volkswagen as part of their joint venture. President-elect Trump wants to eliminate the $7,500 tax credit on electric vehicles, which would hurt Tesla the most. The new agreement builds on an earlier announcement in which the German automaker said it would invest up to $5 billion in Rivian, a maker of electric vehicles.
Our experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next days. the satoshi is a smaller denomination of bitcoin Upgrade to MarketBeat All Access to add more stocks to your watchlist. Rivian Automotive (RIVN) raised $9.1 billion in an IPO on Wednesday, November 10th 2021.
Rivian Automotive, Inc. (RIVN): A Bull Case Theory
But, for RIVN, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company’s ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn’t gauge how much a stock could gain, it has proven to be powerful in predicting an upside. While that doesn’t necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
- According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides.
- The vehicle comes with a 240 to 400-mile range depending on the battery and motor combination and individual driving styles.
- Financially, Rivian’s recent maneuvers signal a more disciplined approach.
- Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations.
- But, for RIVN, an impressive average price target is not the only indicator of a potential upside.
Top Analysts: RIVN
The R1T is hailed as the world’s first EV adventure vehicle, it began production in early 2021 and the first deliveries were made later that same year. By mid-2022 the company had delivered more than 8,000 vehicles with production ramping quickly. Shares of electric vehicle stocks started off on the right foot this week after reports emerged that President Trump’s administration will look to bollinger bands strategy forex lessen regulatory burdens for autonomous driving. Rivian and Volkswagen Group launched on Tuesday the joint venture they had announced in June, valued at $5.8 billion, to share software and electric vehicle architecture. Rivian Automotive faces short-term production issues and potential loss of EV tax credits but remains a strong long-term investment with significant cash reserves. The group is designed for investors seeking to capitalize on growth stocks with robust fundamentals, buying momentum, and turnaround plays at highly attractive valuations.
Rivian Automotive, Inc. (RIVN)
Rivian Automotive (RIVN) shares soared Wednesday, a day after the electric vehicle manufacturer expanded its partnership with Volkswagen in a move aimed at helping both firms find ways to grab more of… Discover which analysts rank highest for RIVN overall weighted by direction, price target, and price movement. Please bear with us as we address this and restore your personalized lists. He runs the investing group Ultimate Growth Investing which specializes in identifying high-potential opportunities across various sectors.
The smaller the standard deviation, the greater the agreement among analysts. At the center of everything we do is wells fargo takes a step toward getting asset cap removed a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system.
After each calculation the program assigns a Buy, Sell, or Hold value with the study, depending on where the price lies in reference to the common interpretation of the study. For example, a price above its moving average is generally considered an upward trend or a buy. The Barchart Technical Opinion rating is a 72% Sell with a Weakening short term outlook on maintaining the current direction. Trump’s election has caused renewable and electric vehicle (EV) stocks to crash.