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UBS Just Raised Its Price Target on Rivian (RIVN) Stock
Rivian AutomotiveRivian Automotive(US:RIVN) InvestorPlace·2024-05-10 02:51

Rivian (NASDAQ:RIVN) stock is in focus after UBS analyst Joseph Spak raised his price target to 9from9 from 10. The change comes after the pure-play electric vehicle (EV) company reported its first-quarter earnings and maintained its 2024 production guidance of 57,000 vehicles compared to actual production of 57,232 vehicles in 2023. That disappointed shareholders, who were hoping for a guidance increase.For Q1, revenue tallied in at 1.204billion,beatingtheFactsetestimatefor1.204 billion, beating the Factset estimate for 1.17 billion. EPS was a los ...