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Rivian stock has 50% upside from here: Needham analyst

Rivian Automotive Inc (NASDAQ: RIVN) has lost nearly 40% over the past month but a Needham analyst is convinced a sharp rebound is on the cards.Rivian stock could climb to 22CopylinktosectionChrisPierceloweredhisestimateforfullyeardeliveriesthismorningtoabout70,000units.Theanalystalsoexpectstherelatedhittogrossmargintopushthecapitalrequirementupto22Copy link to sectionChris Pierce lowered his estimate for full-year deliveries this morning to about 70,000 units. The analyst also expects the related hit to gross margin to push the capital requirement up to 6.0 billion versus his previous forecast for $5.5 billion. That’s after Rivian reported a 10% decline in deliveries for the fi ...