7/104 sources · 3 publishersUpdated Oct 30, 15:21 UTC
Jefferies upgrades Rivian to Buy, keeps price target
Jefferies raised Rivian Automotive's rating from Hold to Buy on Friday while leaving its $17 price target unchanged. The target represents 48.5% upside from Rivian's Oct. 29 close of $11.45. Jefferies cited the recent share-price decline, stronger R2 order signals and progress toward positive automotive gross margins.
Why it matters
The upgrade gives Rivian a more favorable published stance from Jefferies, although the price target did not change. Jefferies' thesis depends on R2 scaling, improving margins and secured funding through the company's cash-burn period.
Key facts
- 1Jefferies changed its Rivian rating to Buy from Hold and retained a $17 price target. tradingview.com
- 2The $17 target indicates 48.5% upside from Rivian's Oct. 29 closing price of $11.45. tradingview.com
- 3Jefferies forecasts more than 40% three-year revenue growth, group gross margin of about 12% in 2027, adjusted EBITDA breakeven in 2028 and free-cash-flow breakeven in late 2029. investing.com
- 4Rivian's R2 volume was estimated at about twice R1 volume in the fourth quarter, according to Jefferies. investing.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.